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🟢The U.S. dollar was under pressure while U.S. Treasury yields slipped from multi-year highs. A softer dollar makes greenback-priced metals less expensive for holders of other currencies.
Key U.S. nonfarm payrolls data is due on Friday. The ADP National Employment Report showed U.S. private payrolls increased moderately in August.
"The payrolls report will probably be the biggest defining moment of the week. If the jobs report misses expectations, and September rate hike bets decline, that could see gold move higher," said Ilya Spivak, head of global macro at Tastylive.
"If prices get over the $4,400 level they're currently in, we are going back in the direction of $4,500 and then $4,700."
Key U.S. nonfarm payrolls data is due on Friday. The ADP National Employment Report showed U.S. private payrolls increased moderately in August.
"The payrolls report will probably be the biggest defining moment of the week. If the jobs report misses expectations, and September rate hike bets decline, that could see gold move higher," said Ilya Spivak, head of global macro at Tastylive.
"If prices get over the $4,400 level they're currently in, we are going back in the direction of $4,500 and then $4,700."