Key Points
Gold prices took a breather and consolidated on Thursday, April 4, after hitting its all-time high mark above $2,300 per ounce earlier in the session on expectations for lower interest rates by the US Federal Reserve this year, as investors await more clarity on the timing of the cuts amid the dovish stance..
At 10:04 am EDT, spot gold was down 0.3 per cent at $2,291.88 per ounce, after hitting a record high of $2,304.09 earlier in the day..
US gold futures declined 0.3 per cent to $2,308.30..
-''Chinas consistent accumulation of gold reserves for 16 consecutive months, as evidenced by Bloomberg data, has played a significant role in bolstering gold prices,'' said Nigel Green, CEO, deVere Group-leading independent financial advisory and asset management organizations..
On domestic prices, Jateen Trivedi, VP Research Analyst, LKP Securities estimates, Gold may experience volatility in the coming days, particularly with data-heavy sessions ahead, including the release of Nonfarm Payroll and Unemployment data on Friday..
