Gold Defies Stronger-Than-Expected Nonfarm Payrolls to Reclaim $4,100, Poised to Reach $4,300 - TradingKey

AI desk brief

• Gold reached $4,134.27 in Monday’s Asian session, up more than 1% intraday after a 5% weekly gain. TradingKey reports October U.S. payrolls rose 165,000 versus 65,000 expected, lifting the dollar and December rate-hike expectations—potential headwinds if sustained.
• Citing the World Gold Council, the report puts third-quarter central-bank net purchases near 321 tonnes and notes gold ETF inflows, but judges these insufficient to fully offset shifting rate expectations near term.
• TradingKey targets $4,147.06; a breakout could expose $4,200–$4,230, with a break and hold above $4,230 opening $4,300. Losing $4,100 support could instead expose $4,050–$4,027, then $4,000.