I’m expecting gold to push toward 4200 from the 4039 level. I entered a long position at 4039 and I’m currently up over $5,000 on a standard lot.
What’s your outlook?
Gold is holding above $4,115 as investors turn to safe-haven assets ahead of two major US releases this week: the Fed meeting minutes tonight and the delayed jobs report on Thursday.
Both will guide expectations for the Fed’s next policy step. Early signals point to a divided committee, while the jobs report is expected to show modest hiring of roughly 50,000 after recent increases in unemployment claims.
Expectations for a December rate cut have cooled, with markets now pricing a 46% chance compared with 63% last week. Ongoing concerns about stretched tech valuations are also weighing on risk appetite, helping support gold as equities trade with a softer tone.
In summary, safe-haven demand, policy uncertainty, and fragile tech sentiment continue to keep gold supported within its current range.
Gold Softens After Jobs Report
Gold fell to about $4,060 on Friday and is poised for a small weekly loss as expectations for a December Fed rate cut weakened after the delayed jobs report. September payrolls rose 119,000, beating forecasts, while unemployment increased to 4.4% and wages grew 3.8%, pointing to a cooling but steady labor market. With October data folded into November and Fed officials urging caution, the probability of a December cut has dropped to about 40%.
From a technical view, support is seen near $4025, while resistance is positioned around $4110.
| R1: 4110 | S1: 4025 |
|---|---|
| R2: 4150 | S2: 3990 |
| R3: 4215 | S3: 3950 |
Hello
Do you think we’ll break 4,000 down?