Gold buyers stepped in around $1901 and lifted the yellow metal amidst an offered US Dollar.
Weak US economic data revealed on Wednesday increased the likelihood of a US recession.
Sentiment remains dampened, although US unemployment claims edged lower.
Federal Reserve officials continued to express the need to lift rates above 5%.
Gold price snaps two days of losses and grinds higher on Thursday, lifted by a weak US Dollar (USD) and a dampened market mood, as Wall Street opened with losses. Soft US economic data released on Wednesday sounded the alarms of an upcoming recession amidst a high inflation environment. Therefore, the XAU/USD is trading at 1921.54, above its opening price by 0.95%.
Gold rises after US economic data and weakening USD
Before the US cash equity markets opened, the US Department of Labor revealed that Initial Jobless Claims for the week ending…