Analysts: Profit-taking has caused gold prices to fall rapidly from historical highs, and the market has gathered US employment data
2025-09-04 03:23:47
Gold prices softened on Thursday on profit-taking in anticipation of a US interest rate cut hitting an all-time high, while investors looked forward to key US jobs data this week. Spot gold fell 1% in the latest day to close to $3,510 an ounce. Brian Lan, managing director of GoldSilver Central, said: "We are seeing some profit-taking, but gold is still in a bull market. Expectations of rate cuts and concerns about the independence of the Federal Reserve will increase haven demand, and we would not be surprised if gold prices rose to $3,800 or higher in the short term." (Gold Ten)
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