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fxJul 1, 2026, 4:48 PM

Gold Bounces Off $4000 Support, US Labor Data in Focus

Gold price rose 2.2% on Wednesday after failing to break below the $4000 support level for the sixth consecutive time. Traders now eye upcoming US labor data for further cues.

XAUUSD

Gold price staged a bounce on Wednesday, rising 2.2% during the early US session. The move followed another unsuccessful attempt to break below the $4000 support level — a barrier gold has failed to breach in six consecutive attempts.

Market attention now shifts to US labor data, which could provide the next catalyst for gold. A strong labor report may pressure gold lower, while weak data could reinforce the bounce.

Source: FXStreet Forex News