Today's outlook for gold (XAU/USD) in the forex market remains bullish, driven by a combination of factors. The price is currently trading near significant resistance levels around $2,531, supported by expectations of U.S. Federal Reserve rate cuts, which would lower bond yields and make gold more attractive. Traders are particularly focused on upcoming U.S. employment data, which could further influence gold prices. A weaker-than-expected jobs report would likely push prices higher, potentially toward $2,600 in the short term. However, if the data shows strong job growth, gold may face downward pressure, with potential corrections towards $2,483-2,477
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.