XAU/USD: Gold Flexes Muscle in Two-Day Rally to Top $3,360. Here’s What’s Coming Next.

Shiny metal booked a roughly 3% gain over Monday and Tuesday and is now staring at jobs data for its next leg — up or down.

🤫 Gold Books Two-Day Win Streak

• Gold prices XAUUSD flexed their safe-haven muscle early Wednesday, floating around $3,340 after settling at the same level on Tuesday — good for a 1% daily gain.
• It ain’t much, but it’s honest work? The shiny metal has now booked a roughly 3% pop since Monday’s open, giving bullion traders a reason to believe the momentum could stick as macro jitters swirl.
• Gold’s outperformance shines bright in 2025 — it’s up 27% on the year so far, easily trouncing the S&P 500’s more modest 5% first-half gain.

👀 Next Breakout: Let’s See That Jobs Data

• With markets winding down into the holiday stretch, traders are laser-focused on Thursday’s nonfarm payrolls report for clues on gold’s next leg — up or down.
• Consensus calls for 120,000 new jobs created in June, down from May’s 139,000. A softer print could reinforce rate-cut hopes and keep safe-haven flows alive.
• A miss might also knock the dollar lower, adding extra shine to gold’s bullish case as traders hunt for yield outside greenback-tied assets.

🤏 Holiday Trading = Thinner Liquidity

• Don’t forget: Thursday is an early close for US equities, and Friday is a full market holiday for July 4th — a combo that often means thinner liquidity and potentially amplified moves.
• Some profit-taking could hit bullion near-term, but longer-term safe-haven demand remains sticky as global growth uncertainty and geopolitical flare-ups linger in the backdrop.
• If gold can hold above $3,340 this week, traders will eye $3,400+ for the next test — with plenty riding on how the jobs data shakes out before everyone heads for the BBQ.