Gold Holds Above $2,500: Safe-Haven Appeal Strengthens

Gold prices remain bullish, trading above $2,500, as weaker U.S. yields and a declining U.S. dollar support its safe-haven status. Recent downward revisions in Nonfarm Payrolls data have raised concerns about a weakening U.S. labor market, potentially influencing Federal Reserve rate decisions. The market anticipates possible rate cuts, with attention now on upcoming economic indicators and Fed Chairman Powell’s speech at Jackson Hole. Gold’s consolidation near resistance levels suggests potential for further gains, reflecting its ongoing sensitivity to economic indicators and monetary policy expectations.