Gold's price (XAU/USD) edges higher and trades back up near $2,865 at the time of writing on Friday after its rather sluggish performance the previous day. The pickup in the rally comes ahead of the US Nonfarm Payrolls (NFP) report later in the day. A weaker number would benefit Gold, with rate cut odds from the Federal Reserve (Fed) increasing.
Meanwhile, headlines emerged on Friday that China's central bank, the People's Bank of China (PBOC), has expanded its Gold reserves for a third month in a row. Even at fresh all-time high prices, the central bank bought roughly 0.16 million troy ounces in January, Bloomberg reports. Meanwhile, threats from US President Donald Trump to slap more tariffs on the Eurozone and other countries are keeping Gold supported as a safe haven for investors should the tariff war escalate further.
Source : Fxstreet
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