April 5 (Reuters) - Gold prices edged higher on Wednesday to touch their
highest levels since March 2022 after weak U.S. economic data spurred
safe-haven demand and expectations that the Federal Reserve might loosen
its monetary policy trajectory.

Spot gold was up 0.1% at $2,022.09 per ounce, as of 0355 GMT. Earlier in
the session, bullion was closing in on record highs seen in 2020. U.S.
gold futures were steady at $2,038.90.

https://www.reuters.com/markets/commodities/gold-hovers-near-2020-record-highs-softer-dollar-weak-us-data-2023-04-05/

The dollar index hovered near two-month lows, making bullion cheaper for
buyers holding other currencies.

"Gold could continue to tear to the upside," given a slowing global
economy with high inflation, with the weakness in the U.S. dollar allowing
gold to "leap higher," said Clifford Bennett, chief economist at ACY
Securities.

Gold prices rallied 2% to cross $2,000 per ounce on Tuesday after another
round of weaker U.S. economic data pointed to a slowing economy.

Data showed U.S. job openings in February dropped to the lowest level in
nearly two years, suggesting the labour market was cooling. A separate
report showed new orders for U.S.-manufactured goods fell for a second
straight month in February.

Gold is traditionally considered a hedge against inflation and economic
uncertainties, but higher interest rates dim the appeal for non-yielding
bullion.

Metals firm MKS PAMP, in a note, flagged a higher risk of future bank
failures and weaker economic activity as credit availability and financial
conditions tighten amidst a sticky inflation backdrop, which are "positive
gold drivers".

The Fed is seen done raising interest rates and starting to cut them in
the summer.

But Federal Reserve Bank of Cleveland President Loretta Mester said while
the economy appears on a path toward slowing down, the U.S. central bank
likely has more rate hikes ahead of it.

### - it hit 2025 earlier, now @ 2023... no one quite knowing which
direction it's gonna be headin' next, tho' prolly higher considering all
the current uncertainty, insecurity + gathering threat of war in the world
presently...

yep, no doubt about it, the old girl (mother earth heh) is running a bit
of a temperature at the moment... let's just hope she doesn't get her
knickers all in a bunch about it huh; panic attacks only making the
situation worse ;)