Gold price (XAU/USD) continues with its struggle to attract any meaningful buyers, though it manages to hold above the $2,900 mark through the Asian session on Friday.
Traders now seem reluctant and opt to wait for the release of the closely-watched US monthly employment details before placing fresh directional bets, leading to subdued range-bound price action for the second straight day.
The popularly known Nonfarm Payrolls (NFP) report will influence the near-term US Dollar (USD) price dynamics and provide a fresh impetus to the commodity.
In the meantime, the growing acceptance that the Federal Reserve (Fed) could cut rates multiple times in 2025 amid signs of a slowing US economic growth keeps the USD depressed near a multi-month low touched on Thursday.
Meanwhile, worries about US President Donald Trump's trade policies and their impact on the global economy continue to weigh on investors' sentiment.
This is evident from a weaker tone around the equity markets and offers additional support to the safe-haven Gold price, warranting some caution for aggressive bearish traders.
Source: FXStreet
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