Gold prices dipped as profit-taking and rising bond yields put pressure, NFP report expected impact.

From Investing.com: 2025-03-07 02:16:00

Gold prices dipped by 0.3% as profit-taking and rising US Treasury yields put pressure on the market. XAU/USD has increased by over 10% this year amidst global uncertainties. The US imposed tariffs on Mexico, Canada, and China, while the Fed is expected to cut rates once this year. The US nonfarm payroll report will likely impact gold prices today, with expectations of 160,000 new jobs created in February.

The euro lost 0.06% against the USD, failing to hold above 1.08500. German bond yields rose sharply, while concerns about US tariffs weighed on the dollar. Investors are torn between a dovish US policy and eurozone challenges. EUR/USD may see significant movements after the NFP report today.

Bitcoin dropped by 0.75% as Trump’s plan to establish a strategic Bitcoin reserve sparked debate. The reserve would include Bitcoin and four other cryptocurrencies, with details on its benefits still unclear. Some crypto enthusiasts were disappointed by the news. Trump will meet with industry executives for a crypto summit today, potentially causing volatility in the market. Watch for the official White House statement and the NFP report for potential impacts on BTC/USD.



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