GOLD → Price enters buying zone ahead of NonFarms for FX:XAUUSD by RLinda

GOLD → Price enters buying zone ahead of NonFarms

resumes gains Friday after brief pause, retesting liquidity accumulation support, but traders cautious ahead of US NFP release

GOLD → Correction for accumulation of potential

NFP decline may support gold - if the actual NFP comes in below forecast (169K), it will reinforce expectations of an imminent Fed rate cut.
Weaker labor market → pressure on the dollar → gold rises.
Fed and policy:
At 15:00, the Fed's monetary policy report will be released, which could clarify the regulator's future course.
If signaling easing → gold up. If there will be hawkish notes → pressure on XAUUSD, but we should also take into account Trump's policy on economic risks

Conclusion on XAUUSD:
In the medium term there is every chance to reach $3,000, locally it all depends on the news: weak NFP and lack of wage growth could send gold above $2,900.
If the data turns out to be strong → a downward correction is possible

Resistance levels: 2870, 2882
Support levels: 2858, 2848

Technically, the focus is on the 2870 resistance. If the price can break this resistance and consolidate above, this maneuver will open the way to further upside. I do not rule out a retest of the channel boundary or 2858 before further upside.

Regards R. Linda!

RLinda

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