🟡 Gold Slips as Dollar Strengthens — Jobs Data in Focus
Gold edged lower on Thursday as a stronger U.S. dollar and cautious positioning ahead of key U.S. jobs data pressured prices. Traders are weighing macro signals against geopolitical risks while waiting for a clear catalyst.
📉 Market Snapshot • Spot Gold: −0.3% to ~$4,440/oz, pulling back from a 1-week high
• Feb Gold Futures: also down ~0.3%
• USD Strength: Firmer dollar makes gold more expensive for non-USD buyers
👀 What Markets Are Watching • U.S. Non-Farm Payrolls (Friday): Could shape expectations for the Fed’s next rate move
• Geopolitics: Ongoing tensions (incl. U.S.–Venezuela) offer safe-haven support, but not enough to offset dollar pressure
📊 Key Levels 📍 Support: ~$4,400
📍 Resistance: ~$4,480–$4,500
⚖️ Bottom Line:
Gold is trading cautiously. Short-term profit-taking and a strong dollar are cooling momentum, while Friday’s jobs report could decide the next major move.
#Gold #XAU #USD #FedWatch #JobsData
