Gold Price Forecast: XAU/USD stages a modest recovery above $1,980 after Fed rate pause

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• Gold price attracts some buyers after the Federal Open Market Committee (FOMC) rate decision.
• FOMC maintained the monetary policy unchanged at 5.5% at its November meeting.
• Gold traders will focus on the weekly Initial Jobless Claims ahead of Friday’s Nonfarm Payrolls (NFP).

Gold price (XAU/USD) stages a modest recovery during the early Asian session on Thursday. The rebound of precious metal is bolstered by a decline in the US Treasury bond yields following the the Federal Open Market Committee (FOMC) policy meeting. As of writing, gold price is trading higher on the day at $1,985.