Market focus shifts to key gold price levels ahead of May US jobs data, with $4,350 and $4,560 as critical thresholds.
Gold prices hover near pivotal levels as traders await the May US Non-farm Payrolls report, which could trigger a move toward $4,350 or a rally above $4,560. The report’s outcome may ease or exacerbate inflation concerns, influencing Federal Reserve policy expectations.
Recent support sits at $4,300, while resistance is pegged at the 21-day and 50-day simple moving averages of $4,560 and $4,630, respectively. A weaker-than-expected jobs print could fuel a relief rally, while stronger data may pressure prices lower.
Market sentiment remains divided, with technical levels dictating near-term direction amid broader macroeconomic uncertainty.