A deteriorating market sentiment has helped GOLD prices climb 2.1% higher so far this week, and the uptrend is only likely to continue with markets anticipating weak NFP figures releasing later today.
At the time of writing, Gold is trading at a little over 1333 and is all set for its best weekly percentage gain since December 2018. What could weigh on gold prices, however, is the slight improvement in market sentiment over possibility that the US could delay or put off tariffs on Mexico.
Discussions between US and Mexican officials are ongoing, but we’re hearing that they have been able to make some progress on Thursday. While it remains to be seen whether Trump will find Mexican actions satisfactory enough to put off tariffs, hopes are high for this to happen soon.