Gold Spot / U.S. Dollar
Short
Updated

Geopolitical Undercurrents Support Gold as NFP Looms

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GOLD XAUUSD Gold hovers near $3,370 after failing to hold above $3,374, where previous support has turned into resistance. Price remains trapped between TL2 and TL3, with short-term direction hinging on tonight’s U.S. NFP data (130K jobs expected, 3.7% YoY wage growth). A strong report may trigger a drop toward the $3,342–$3,325 support zone, while weaker data could spark a bullish breakout toward $3,402.

Although Trump and Xi agreed to restart trade talks, deep fractures remain over export controls, Taiwan, and rare earth supply. These unresolved issues suggest geopolitical risk is far from over, offering medium-term support for GOLD gold despite recent risk-on flows.

  • Resistance : 3,374 , 3,402

  • Support : 3,342 , 3,325
Trade active
Trade closed: target reached

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