Gold Price Forecast: Gold Falls Below $4,100, Can October Nonfarm Payrolls Fuel Another Rally? - TradingKey

AI desk brief

• Gold fell 0.85% to about $4,050 in the reported November 6 Asian session after reaching $4,147.06 Thursday. The article cites October payroll forecasts of 65,000 jobs and 4.2% unemployment, and a CME-implied 68.4% December rate-hike probability.
• The source argues weaker payrolls, rising unemployment and moderating wages could reduce tightening expectations and support gold through a weaker dollar; stronger hiring alongside accelerating wages could constrain its rebound.
• Technically, a sustained break above $4,100 would target $4,150. Initial support is $4,030, then $4,000; failure at $4,000 could expose $3,975, while stabilization above $3,975 could allow a rebound.