Gold prices are trading in today’s Asian session above 2350 levels.
Gold prices are showing increased momentum on Friday, despite a slight rebound in the US Dollar (USD).
The upward movement in the price of the yellow metal is attributed to several factors. Many economists anticipate that a weakening labour market may prompt the Federal Reserve (Fed) to consider earlier interest rate cuts to stimulate economic growth.
Additionally, renewed geopolitical concerns are expected to contribute positively to gold's market value as ceasefire talks between Israel and Hamas closed with no deal reached.