Wow! Gold Price Soared Again

<p>&nbsp;Gold prices surged to a three-week high following a slide in the US dollar and US bond yields after being hit by disappointing economic data.</p><p><br /></p><p>At the time of writing, the yellow metal was trading higher at around $1,935 an ounce, while gold futures were up at $1,965 an ounce.</p><p><br /></p><p>Weakness in the job openings report (JOLTS) and US consumer confidence slightly shook investors' expectations for the Federal Reserve (Fed) to raise interest rates further.</p><p><br /></p><p><br /></p><p>The US dollar slipped lower against major currencies, while the 10-year US bond yield fell to its weakest level in two weeks at 4.11%.</p><p><br /></p><p>Investors are now looking forward to Thursday's personal consumption expenditure (PCE) data and Friday's US NFP jobs.</p><p><br /></p><p>However, before that investors will be shown first with the publication of private sector ADP employment data and the second reading of US gross domestic product (GDP) for the second quarter of 2023 in the New York session today.</p>