XAU/USD is trading around $1,970 after making another move toward $2,000. The precious metal's retreat from the highs has been accompanied by a recovery in US ten-year bond yields, which are around 0.55%.
Higher returns have also allowed the dollar to stabilize after a downfall throughout July and a late correction on that month's last day.
The ISM Non-Manufacturing Purchasing Managers' Index for July is the main publication of the day and serves as a clue toward Friday's jobs report. Faster growth is expected in the industrial sector, which is more resilient to surging coronavirus cases.
Higher returns have also allowed the dollar to stabilize after a downfall throughout July and a late correction on that month's last day.
The ISM Non-Manufacturing Purchasing Managers' Index for July is the main publication of the day and serves as a clue toward Friday's jobs report. Faster growth is expected in the industrial sector, which is more resilient to surging coronavirus cases.