Gold Price Forecast and Market Insights Ahead

Gold Market Overview: Navigating the Current Landscape

Gold is sliding near its daily lows around $3,230/oz, dragged down by a firmer U.S. Dollar and a sharp rebound in U.S. Treasury yields. The precious metal is clinging to critical support at the 21-day SMA ($3,234)—a level that could determine whether bulls regain momentum or bears take full control.

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What’s Moving Gold Right Now?

Several macroeconomic forces are keeping the gold market in suspense:

A stronger U.S. Dollar is capping any meaningful upside.
U.S. Treasury yields are on the rise, pulling investor attention away from non-yielding assets like gold.
Geopolitical optimism—especially regarding U.S.-China tariff talks—has reduced demand for safe-haven assets.
Traders are on standby for today’s U.S. Nonfarm Payrolls (NFP) report, which could shift the Fed’s policy outlook and jolt gold prices sharply in either direction.

📊 Expectations: April’s NFP is forecast to add 130K jobs (down from 228K), with unemployment holding at 4.2% and average hourly earnings rising 0.3%.

XAU/USD Technical Snapshot

Support: 21-day SMA at $3,234. A sustained break could trigger a slide toward $3,150, with the 50-day SMA at $3,087 as the next target.
Resistance: A bounce could target $3,260, with further bullish aims at $3,350 and the former rising channel support turned resistance at $3,405.
RSI: Neutral, hovering around 52.50, signaling indecision—but ready to break either way post-NFP.

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