FX.co ★ Quee | XAU/USD, GOLD

ANALYSIS OF GOLD PAIR. The future of the US economy is still unclear because of uncertain government policies. Federal Reserve head Jerome Powell pointed out that it's hard to know how President Trump's trade and money decisions will affect things in the long run. San Francisco Fed President Mary Daly agreed, saying that increasing worry among US companies might lower demand, but she doesn't think it's enough to change interest rates yet. New job numbers in the US also suggest a weaker economy. The most recent report showed only 151,000 new jobs last month, which is less than expected, suggesting the job market is slowing down. The unemployment rate unexpectedly went up to 4.1% from 4.0%, and yearly wage increases were slightly lower than previously thought, at 4.0%. This mixed job data has made people think the Federal Reserve will cut interest rates again, which could push the US dollar's value down over time. The price of gold fell below $3,350 early Thursday, getting close to the lowest it's been in almost a week.

Gold is recovering after hitting its lowest point since last November, a factor that had been holding it back. This quick drop happened shortly after BNP Paribas predicted gold would reach $3,600 in the second quarter, a forecast that shocked the commodity world. Looking at market trends, the $3,350 area is still a key point in the near future. If gold falls further, it might test the $3,300 mark, but investors should be careful about selling if it drops below this point because it could lead to many people cashing in their profits.