Gold price rises again – Commerzbank

The Gold price has been on the rise again since yesterday, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.

US labour market report is a key item on the agenda on Friday

"Various developments are likely to provide impetus: on the one hand, speculation about US interest rate cuts has intensified. On the other hand, fiscal risks are likely to come to the fore again in view of the fact that the US government is currently trying to push its fiscal package, the ‘Big Beautiful Bill’, through Congress."

"According to some experts, the latest Senate version is likely to drive US debt even higher than the version originally proposed. Whether the trend in interest rate expectations continues is likely to depend on the US data due to be released in the coming days. The US labour market report is a key item on the agenda on Friday."

"If it continues to prove robust, this could create headwinds for interest rate cut expectations as well as for Gold."