Gold rises to near $4,100 ahead of US NFP data - Mitrade

AI desk brief

• Gold reached a more than two-week high near $4,085 early Friday. OCBC attributed the post-election rebound to a softer dollar and lower Treasury yields and oil prices; further gains would require moderating Fed-tightening expectations and recovering investment demand.
• September payrolls were forecast to rise 65,000, with unemployment at 4.2%; stronger employment could support the dollar and pressure gold. CME FedWatch showed a 70.9% probability of a December rate increase.
• The source’s AI-assisted technical analysis places resistance at the 100-day SMA near $4,200; a break higher could expose $4,250. Support lies near $4,070, then $3,895, with a decisive drop below the latter potentially reinforcing bearish pressure.