Key Points
(Reuters) Gold prices hit a two-week high on Thursday as U.S. bond yields fell on signs of a cooling labour market, strengthening a case for a September interest rate cut by the Federal Reserve, while investors positioned for U.S. non-farm payrolls data...
Spot gold was up 0.4% at $2,363.03 per ounce as of 0858 GMT, after hitting a two-week high earlier in the session..
U.S. gold futures rose 0.3% to $2,381.80...
Gold is supported by expectations of a slowdown in the U.S. economy and a dovish central bank in the next few months, Kinesis Money market analyst Carlo Alberto De Casa said...
Meanwhile, in wider financial markets, global stocks were on the brink of an all-time high and the euro rose ahead of what was widely expected to be the European Central Banks first interest rate cut in nearly five years..
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