Gold prices pull back from $2,000 as rate uncertainty persists.
Gold prices rose slightly in Asian trade on Thursday after pulling back from key levels in overnight trade as strong labor market data fueled uncertainty over the path of U.S. interest rates.
The yellow metal saw a strong run-up this week amid growing optimism that the Federal Reserve was done raising interest rates in its current cycle. Gold prices briefly crossed the $2000 an ounce mark on Tuesday.
But signs of resilience in the U.S. labor market and hawkish signals from the minutes of the Fed’s recent meeting stalled gold’s rally. A rebound in the dollar– from near three-month lows- also weighed on bullion prices.