XAUUSD prices may recover slightly and continue to decline

XAUUSD The price of gold (XAU/USD) is experiencing slight selling pressure as the Federal Reserve's preferred measure of inflation remains consistent in July.

Previously, the value of gold was trading sideways following a surge caused by weak labor demand due to the worsening economic forecast.

It is anticipated that the precious metal will remain inactive as investors wait for the release of US Nonfarm Payrolls (NFP) data on Friday before making any informed decisions.