Gold prices (XAU/USD) surged during Asian trading hours on Wednesday, approaching seven-week highs above $4,300. The uptrend reflects the precious metal's appeal amid a cooling US labor market, where recent data indicates resilience but also a notable slowdown in hiring activity. This shift has heightened investor interest in safe-haven assets like gold.
The movement in gold comes as traders reassess their positions on the USD, which has been influenced by labor market dynamics. As the exchange rate for USD fluctuates, the demand for non-yielding assets such as gold is expected to remain strong. Market participants are closely monitoring upcoming economic indicators that could further impact the currency pair and overall trading strategies in the forex market.
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Data Source: FX Killer Analysis Team Updated: 2025-12-17 03:07
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.