Gold was stable on Friday (2/5) at $3241 in the Asian session after experiencing a massive decline of more than 2% on Thursday.
The easing of trade tensions between the US and its trading partners has affected demand for safe haven assets, thus weighing on the precious metal
Meanwhile, investors are now pricing in a higher chance of a Federal Reserve (Fed) interest rate cut, although everything depends on the trade deal. This, in turn, could boost the price of non-yielding Gold.
The US April jobs report will be in focus on Friday as it could prompt the US Fed to start cutting interest rates sooner rather than later. This data is in the spotlight for market players to speculate.
Source: Newsmaker.id
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