Gold is testing the critical 200-day SMA after an improved fundamental backdrop helped the yellow metal gain in July. Meanwhile, Crude oil is looking lower.

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The Australian Dollar remained under pressure on Thursday following a mixed domestic jobs print and shaky Chinese GDP data.

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The S&P 500 index closed higher after Fed Chair Jerome Powell signaled that the Fed may be patient in tapering stimulus in a testimony. Asia-Pacific markets await Chinese Q2 GDP figures.

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USD/CNH is pushing lower as traders prepare for China's second quarter GDP print to cross the wires. The Yuan may break current support at the 26-day EMA if the data impresses.

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Gold bulls propelled XAU/USD price action 1% higher on Wednesday with the precious metals rise mirroring the sharp decline in ten-year real yields to their lowest level since mid-February.

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