Gold at Pivotal Moment Ahead of US NFP Report
Gold prices are at a critical juncture as the May US Non-farm Payrolls report approaches. A breakdown could target $4,350, while a relief rally may push prices above $4,560.
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Gold prices are poised for a key move as the May US Non-farm Payrolls (NFP) report looms. The outcome could determine whether the metal breaks down toward $4,350 or stages a relief rally above $4,560.
A weaker-than-expected payroll number might ease inflation concerns, potentially supporting gold. If bears dominate, the structural floor at $4,300 is the next target. Conversely, if bulls defend support, the 21-day SMA at $4,560 and the 50-day SMA at $4,630 become primary upside objectives.
Source: FXStreet Forex News