Gold price (XAU/USD) attracts some follow-through buying for the second straight day and climbs to a two-week top, around the $2,373 area during the Asian session on Thursday.
Gold price advances to a two-week top amid the emergence of fresh USD selling. Rising Fed rate cut bets keep the US bond yields depressed and weigh on the buck. Traders look to the US jobless claims for some impetus ahead of the NFP on Friday. Gold price attracts some follow-through buying for the second straight day and climbs to a two-week top, around the $2,373 area during the Asian session on Thursday.
Technical Analysis: Gold price might confront stiff hurdle and remain capped near the $2,400 mark From a technical perspective, momentum beyond the $2,364 area, or last week's swing high, could be seen as a fresh trigger for bullish traders. That said, mixed oscillators on the daily chart warrant some caution before positioning for any further gains. Hence, any subsequent move up is more likely to confront stiff resistance and remain capped near the $2,400 mark.
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