Gold prices remain near recent highs as traders await Friday’s payrolls report to gauge Fed policy expectations.
Gold has maintained most of its recent gains after breaking critical resistance, supported by lower oil prices, softer Treasury yields, and central bank demand. The rally faces a test with Friday’s US nonfarm payrolls data, which could sway Fed rate cut expectations.
Earlier momentum was driven by technical buying and ETF inflows, but rebounding oil prices and rising yields have tempered bullish sentiment. Analysts cite resistance at USD 4,333 and USD 4,389, with support at USD 4,180 and USD 4,082.
A weaker jobs print may reinforce the rally by reducing Fed hike bets, while stronger data could trigger profit-taking after the sharp advance.