Gold Market Update Ahead of US Jobs Data

On Friday, gold edged up slightly ahead of key US jobs data (NFP). Optimism over a US-China deal and USD profit-taking are capping gold’s gains. A weak NFP (<100,000) would bolster expectations of a Fed rate cut (54% chance in September), supporting gold, while a strong NFP (>200,000) would pressure it downward.
Technically, the market is bullish, with prices consolidating in the 3300-3340 range after breaking resistance. A shakeout at support is possible before the trend resumes.

Resistance: 3375, 3391, 3414

Support: 3339, 3331
Forecasting prices before NFP is tough, so it’s best to wait for the data and monitor price reactions. Prices may stay range-bound until next week, depending on fundamentals.
Best regards,