Gold oscillating within a range ahead of US NFP data release

Gold prices largely remained subdued between 2890-2924 range ahead of crucial US Non Farm Payroll Data releasing on Friday that could set a new trajectory for the yellow metal. Market participants are closely monitoring any new shift in Trump's tariff policies. A spinning top on the daily timeframe is indicating a possible reversal in the momentum. Additionally, there's a head and shoulder pattern formed on hourly chart of Gold signaling some caution ahead. However weekly trend suggests the yellow metal could move in the positive direction, fueled by a weakening Dollar. A successful breach of 2930 mark would take the prices further up.
Gold Structure: Spinning Top on Daily, Consolidation on 4hr, H&S on 1hr.
Intraday Strategy/ Intraday Trend: Buy on Supports, Sell on Resistance/ Neutral
Weekly Trend: Neutral to Bullish
Major Resistance: 2910, 2917, 2928
Major Support: 2904, 2892, 2887
Recent News
Gold Consolidates in a Tight Range Await...
March 10, 2025
Market Insights
GBP/JPY surged past 194.00 mark , next h...
March 25, 2025
Market Insights
Gold attracts buyers in early European S...
October 24, 2024
Market Insights
DAX made a Doji on Daily time frame
December 10, 2024
Market Insights
Stock market today: S&P 500 closes highe...
November 19, 2024
Market Insights
NASDAQ making bearish Flag
February 20, 2025
Market Insights