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fxJul 2, 2026, 3:56 AM

Gold Holds Positive Bias as USD Softens, Fed Rate Bets Cap Gains

Gold (XAU/USD) edges higher in Asian trade on a softer US dollar, though expectations of further Federal Reserve rate hikes limit upside ahead of the US nonfarm payrolls report.

XAUUSD

Gold is attracting fresh buyers during the Asian session on Thursday, following a volatile previous day that saw prices retreat from an over-one-week high. The precious metal is benefiting from a softer US dollar, which lends support to dollar-denominated commodities.

However, upside remains capped as markets continue to price in additional Federal Reserve rate hikes. Traders are now awaiting the US nonfarm payrolls (NFP) report, which could provide further clues on the pace of monetary tightening.

Source: FXStreet Forex News