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fxAug 10, 2026, 2:30 AM

Gold Pulls Back from Highest Since June 17 as Dollar Strengthens

Gold prices drift lower on Monday, retreating from Friday's peak above the June 17 high after disappointing US jobs data. XAU/USD holds above the key $4,300 support level.

XAUUSD

Gold (XAU/USD) started the week under pressure, pulling back from the high it reached on Friday following a disappointing US Nonfarm Payrolls (NFP) report. The move comes as the US dollar stages a modest uptick, weighing on the precious metal.

Friday’s rally sent gold to its strongest level since June 17, as traders reassessed the Federal Reserve’s rate outlook after the NFP miss. However, the initial optimism faded, and the dollar’s recovery is now prompting some profit-taking.

Despite the dip, gold remains above the pivotal $4,300 support zone. A sustained break below this level could open the door to deeper losses, while a bounce may see a retest of the recent highs.

Source: FXStreet Forex News