Philippines Gold price today: Gold falls, according to FXStreet data
United Arab Emirates Gold price today: Gold falls, according to FXStreet data
Pakistan Gold price today: Gold falls, according to FXStreet data
India Gold price today: Gold falls, according to FXStreet data
Malaysia Gold price today: Gold falls, according to FXStreet data
$4,400: Gold struggles at that level, but bulls refuse to give up yet
Gold remains depressed as reviving Fed rate hike bets and Iran risks underpin USD
Gold falls below $4,400 as strong US jobs data raise the prospects for Fed rate hike
Gold is attempting to stabilize after a sharp two-week decline reversed a large portion of the August advance. The pullback has brought XAU/USD back to an important inflection point, with the focus now on whether bulls can regain control and revive the broader recovery.
Gold's higher swing low and rising trend channel support the potential for a second leg higher. A breakout above $4,697 could bring resistance at $4,862–$4,891 and eventually the $4,966–$4,984 target zone into focus.
A 162,000 jobs beat sent gold lower and pushed the two-year yield to a January 2025 high. PPI and CPI now decide the Fed trade.
United States CFTC Gold NC Net Positions down to $228.1K from previous $243.3K