Gold XAU/USD picks up within range aiming for $4,500

LONDON (January 9) Gold (XAU/USD) sellers were halted at the $4,400 support area on Thursday, and bounced up to the highest range of the $4,400s, aiming for the $4,500 area with precious metals buoyed amid a moderate risk aversion on Friday.

Investors trade with caution, awaiting the US Supreme Court’s decision on Trump’s trade tariffs, which might lead to reimbursement claims of about $150 billion on levies already paid by US companies.

Apart from that, the market awaits the release of December’s US Nonfarm Payrolls report. Employment creation is expected to have remained at moderate levels, with the jobless rate ticking down. The final figures, however, are unlikely to ease the wide divergence among Fed policymakers regarding the next steps ahead.

FXStreet