Gold price consolidates below $4,200 as markets turn to NFP next - investinglive.com

AI desk brief

Gold is consolidating just below $4,200/oz after Monday’s selloff, with the rebound lacking conviction as elevated Treasury yields keep pressure on the metal. Near-term support has improved with spot back above the 100-hour moving average around $4,164, but bulls still need to reclaim $4,235-$4,240 to improve the short-term chart; above that sits the 61.8% retracement near $4,241 and the 100-day moving average around $4,279.

The key catalyst is today’s US non-farm payrolls and wage data. A softer report would likely help gold extend the bounce, while stronger data that re-lifts yields could quickly cap the recovery; the article highlights 10-year Treasury yields recently touching 5.34%, the highest since 2002, as the main macro risk to bullion.