Saad Ullah
Gold has been on a remarkable run lately, showing the kind of strength that gets traders excited. With the precious metal pushing into new territory and key economic data on the horizon, investors are watching closely to see if this rally has more room to run. The combination of technical momentum and upcoming market events could set the stage for gold's next significant move.
Gold (XAU) Price Breaks Higher Toward $3,571
Gold has put on an impressive show, climbing to $3,571.67 with a solid +3.60% gain in the latest weekly session. The buying momentum has pushed the metal well above the key $3,445–$3,501 support area, suggesting the bulls are firmly in control and ready to push even higher.
Market analyst @Emijaop thinks gold has what it takes to reach the $3,800–$4,000 range, especially with the upcoming U.S. Non-Farm Payrolls (NFP) report on the horizon. These job numbers often shake up the gold market as traders try to figure out what the Fed might do next.
Here's what to watch:
- Support to hold: $3,445 – $3,501
- Resistance ahead: $3,668 – $3,869
- Bull targets: $3,800 – $4,000
If the job numbers disappoint, gold could really take off as investors pile into the safe haven and bet on easier Fed policy.
Gold (XAU) Price Outlook: Can Bulls Hold Momentum?
The bigger picture still looks bullish, with gold staying within its upward channel and above key moving averages. The technical setup suggests there's still gas in the tank, with the next major hurdle sitting just under $3,900.
But here's the catch: if those U.S. jobs numbers come in stronger than expected, we could see gold pull back toward the $3,500 support area. It's all about those upcoming data releases and how they shape expectations for Fed policy going forward.
Saad Ullah
