Ella 
On Thursday, the price of gold (gold/USD) rose slightly as the US dollar weakened, but there was a lack of follow-up buying. On Friday, the Asian market was still below the psychological $2,000 mark.
Although Tuesday’s FOMC meeting minutes were hawkish, investors seemed confident that the U.S. central bank would keep interest rates steady rather than raise them. This in turn has dampened the dollar’s recovery this week from its lowest levels since August 31 and continues to be a bullish factor for non-yielding gold.
Still, U.S. macro data released on Wednesday showed signs of recovery in the labor market and added to uncertainty about the Fed’s next policy moves. This, coupled with a strong pickup in U.S. Treasury yields, has provided some support to the U.S. dollar and limited upside for gold prices in U.S. dollars. Still, the precious metal is poised for a second straight weekly gain as traders look to the U.S. flash Purchasing Managers’ Index (PMI) to be released on the final day of the week to provide some impetus.
