FX.co ★ Gold Rebounds on Thursday

Gold futures have rebounded, surpassing $3,300 per ounce on Thursday, effectively ending a three-day slump. This movement was prompted by the release of new U.S. economic data and statements from a White House economic adviser. Kevin Hassett displayed optimism regarding the possible reversal of the trade court's decision that currently obstructs most of the Trump administration's tariffs. Meanwhile, updated figures indicate the U.S. economy shrank at an annualized rate of 0.2% in the first quarter of 2025. Although this is a slight improvement over the earlier report of a 0.3% decline, it marks the first quarterly economic contraction in three years. Additionally, weekly jobless claims increased by 14,000, reaching a total of 240,000, exceeding the anticipated figure of 230,000. Continuing claims also rose to their highest point since 2021, suggesting that unemployed individuals are taking longer to secure new employment. The minutes from the Federal Reserve's May meeting reveal that policymakers are currently adopting a cautious approach as they assess the impacts of recent economic policies.