Gold Daily | Gold Climbs Above $2,680 Amid Economic Uncertainty and Anticipation of U.S. Job Data

【Latest Gold Price and Recent Trends】

Gold has risen for the fourth consecutive day, trading above $2,680 per ounce, driven by anticipation of U.S. job data and potential Federal Reserve policies. The current price is $2,681.21, up by 0.42%.

【Technical Analysis】

Gold continues to trade within the $2,600 support and $2,721 resistance range. Investors are preparing for a move towards the resistance, while sellers may target a drop to $2,500 if support is breached. Recent market data shows a possible continuation of the buying trend, with key levels at $2,700 and $2,760 for further upward momentum.

【Market Sentiment and Economic Background】

Gold's recent rise occurs despite a strong dollar and high U.S. Treasury yields, typically headwinds for gold. The market is closely watching U.S. non-farm payroll and CPI data, which will influence interest rate expectations. An uncertain economic outlook, including U.S. fiscal concerns and geopolitical tensions, supports gold as a safe haven.

【Analyst Opinions】

Analysts highlight gold's resilience amid rising yields and dollar strength, driven by global economic uncertainty. While some expect downward pressure if employment data is strong, others see potential support from lower than expected data, which could reinforce rate cut expectations. The market remains cautious with mixed signals from technical indicators and upcoming U.S. economic reports.