AInvest Newsletter
Daily stocks & crypto headlines, free to your inbox
Gold Daily | Gold Rebounds Amid US Job Data Anticipation; Key Levels at $3234 and $3260 in Focus
Generated by AI AgentAinvest Market Brief
Friday, May 2, 2025 8:01 am ET1min read
【Latest Gold Price and Recent Trends】
Gold prices have rebounded, currently around $3252 per ounce, after a sharp drop on Thursday. Traders are cautious ahead of the US non-farm payroll data, which may provide fresh market direction.
【Technical Analysis】
Gold prices are holding above the 21-day SMA at $3234, preventing further declines after breaking a three-week uptrend. The RSI is slightly above the midline at 52.50, suggesting potential for a rebound if data disappoints. A break above $3260 could target $3350, while a drop below $3234 opens the path to $3150.
【Market Sentiment and Economic Background】
Investors are on edge due to the upcoming US non-farm payroll report, which is expected to show significant slowdown in job growth to 130,000 from March's 228,000. If the data falls below 100,000, concerns about tariff impacts may increase, supporting gold prices. Conversely, strong data above 200,000 could boost the dollar and pressure gold further.
【Analyst Opinions】
Analysts suggest gold prices might react more strongly to disappointing employment data. Economic indicators signal potential US economic weakness, with a dramatic slowdown in private sector job growth reported by ADP. The anticipation of US non-farm payrolls and ISM data is pivotal for short-term gold movement. Some analysts predict price correction due to high RSI levels, while others foresee further decline without a breakout above $3350.
Gold prices have rebounded, currently around $3252 per ounce, after a sharp drop on Thursday. Traders are cautious ahead of the US non-farm payroll data, which may provide fresh market direction.
【Technical Analysis】
Gold prices are holding above the 21-day SMA at $3234, preventing further declines after breaking a three-week uptrend. The RSI is slightly above the midline at 52.50, suggesting potential for a rebound if data disappoints. A break above $3260 could target $3350, while a drop below $3234 opens the path to $3150.
【Market Sentiment and Economic Background】
Investors are on edge due to the upcoming US non-farm payroll report, which is expected to show significant slowdown in job growth to 130,000 from March's 228,000. If the data falls below 100,000, concerns about tariff impacts may increase, supporting gold prices. Conversely, strong data above 200,000 could boost the dollar and pressure gold further.
【Analyst Opinions】
Analysts suggest gold prices might react more strongly to disappointing employment data. Economic indicators signal potential US economic weakness, with a dramatic slowdown in private sector job growth reported by ADP. The anticipation of US non-farm payrolls and ISM data is pivotal for short-term gold movement. Some analysts predict price correction due to high RSI levels, while others foresee further decline without a breakout above $3350.
Ainvest Market Brief
Market Watch column provides a thorough analysis of stock market fluctuations and expert ratings.
Latest Articles
Morning Market Pulse: Trump Sanctions Escalate, Silver Hits Record Highs
Dec.24 2025
What to Trade Today: Bullish Metals and a Cautious Market Eye on Energy and Financials
Dec.24 2025
Morning Market Pulse: Trump Trade War Threats and Fed Uncertainty Weigh on Markets
Dec.23 2025
What to Trade Today: Gold and Copper Rally as Biotech and Metals Stocks Offer Volatile Short-Term Gaps
Dec.23 2025
U.S. Corporate Actions | Ticker Changes and Dividend Announcements Highlight Activity
Dec.23 2025
Ainvest News articles are AI-generated using advanced large language model (LLM) technology designed to analyze and synthesize publicly available data and news. While AI tools assist in producing initial drafts and insights, all AI generated content published on Ainvest is subject to comprehensive human editorial review before publication. A designated human editor reviews, verifies, and approves each article for factual accuracy, coherence, and compliance with AInvest Fintech Inc’s editorial and disclosure standards.
Despite these review procedures, the information provided may still contain inaccuracies, incomplete data, or time sensitive references due to the inherent limitations of AI generated analysis and evolving changes. The material is provided strictly for informational and educational purposes and does not constitute personalized investment, legal, or financial advice. Readers should independently verify all facts, figures, and statements before making any decision based on this content.
AInvest Fintech Inc. its affiliates, and partners accept no liability or responsibility for any direct or consequential losses arising from reliance on this content. All articles and analyses are subject to revision, update, or removal without prior notice to maintain accuracy and integrity in our publications.
Comments
No comments yet