Gold Price Forecast: XAU/USD defends $1,980 as steady Fed policy bets soar, US Employment in spotlight

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• Gold price is defending the $1,980.00 support as odds for a steady Fed policy have soared.
• Downbeat US Manufacturing PMI has faded the expectations of one more consecutive rate hike from the Fed.
• The USD Index found a cushion near 102.00, however, the upside seems restrictive amid an absence of supportive indicators.

Gold price (XAU/USD) has sensed a cushion of around $1,980.00 after a gradual correction from above $1,990.00 in the Asian session. The precious metal has picked support as the odds for a steady monetary policy by the Federal Reserve (Fed) have soared. The yellow metal has gauged a cushion despite a recovery move by the US Dollar Index (DXY).