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- The XAU/USD is currently trading at $2,115, its highest since early December.
- The underlying strength in gold stems from softer US inflation numbers and soft economic data reported last week.
- Investors are discounting higher odds for the Fed’s easing cycle to start in June.
- Labor market figures from the US will continue modeling the expectations.
The XAU/USD is currently trading multi-month highest around $2,115 as investors continue digesting last week’s weak inflation and economic activity figures from the US. As for now Market anticipations for a rate cut only start to heighten moving closer to May and significantly by June. The non-yielding yellow metal is benefitting ahead of the critical labor market data from the US expected this week, even though the general tone of data remains firm which would justify the delay of the easing cycle from the Federal Reserve (Fed).
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