Gold price stands firm near $2,650 hurdle; modest USD strength caps the upside
Gold price (XAU/USD) sticks to its positive bias through the first half of the European session, though it remains below the $2,650-2,655 supply zone and remains confined in a familiar range held over the past two weeks or so. The US Nonfarm Payrolls (NFP) report released on Friday reaffirmed bets that the Federal Reserve (Fed) will lower borrowing costs in December. This, in turn, keeps the US Treasury bond yields depressed and turns out to be a key factor acting as a tailwind for the non-yielding yellow metal.
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