Gold price consolidates within a tight range on Monday, foreshadowing a massive breakout.

Gold prices slipped below $2920 in Monday's session, largely remaining subdued within a range of 20 points. Traders closely monitor Federal Reserve's policy stance as the U.S. monthly employment numbers released on Friday suggested fewer jobs were added the previous month, indicating a slowdown in U.S. labour market. Furthermore, monthly unemployment rate ticked up to 4.1% from 4.0% reaffirming bets for further policy easing by Fed. Investors remain worried about Trump's inflationary tariff measures that could hurt the U.S. economy. The Yellow Metal continues to stay rangebound, mirroring the trajectory it followed the previous week. 

GOLD TECHNICAL ANALYSIS 

Gold Structure: Bullish Candle on Weekly, 4 Days of Sideways Action in Daily, Bear Flag on 1hr.

Intraday Strategy/ Intraday Trend: Buy on Supports, Sell on Resistance/ Neutral

Weekly Trend: Neutral to Bullish

Major Resistance: 2918, 2923, 2931

Major Support: 2908, 2904, 2898