Daily Market Report
➢ Gold Pullback: Gold (XAU/USD) retreats from a one-week high amid profit-taking during the
Asian session, halting a three-day recovery from a one-month low.
➢ US-Vietnam Trade Deal: A trade agreement between the US and Vietnam, which includes
lower tariffs and improved market access, reduces safe-haven demand for gold.
➢ US Dollar Strength: A modest uptick in the US Dollar adds downward pressure on gold ahead
of the critical US Nonfarm Payrolls (NFP) report.
➢ Dovish Fed Outlook: Disappointing US ADP employment data and concerns over worsening
US fiscal conditions support expectations of a Fed rate cut, limiting gold’s downside.
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