Gold prices rose slightly on Thursday during these moments, after yesterday's strong declines and were due to positive data from the US economy represented by the services and manufacturing Purchasing Managers Index, where gold is currently trading under the pressure of a rising US dollar and rising bond yields, and traders are waiting today for US GDP figures and the policy meeting of the European Central Bank.
Gold fell to the lowest level in about a week on Wednesday after data showed that the US economy started 2024 on a strong performance amid a recovery in business activity in January, with signs of slowing inflation.
Markets currently expect a 43% chance of a Fed rate cut in March, up from as high as 90% earlier this year.
