GOLD | Bulls Eye 4529 as NFP Takes Center Stage

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GOLD | Bulls Eye 4529 as NFP Takes Center StageGoldOANDA:XAUUSDSroshMayi Gold continues to maintain bullish momentum, supported by a softer U.S. dollar, easing Treasury yields and a pullback in expectations for a September Fed rate hike. The fundamental picture improved after Fed Governor Christopher Waller indicated he could favor keeping rates unchanged this month if inflation continues to moderate. Gold gained around 2% following the shift in rate expectations. However, today’s U.S. Nonfarm Payrolls report is now the key catalyst and could quickly reshape expectations for the September Fed decision. Technically As long as Gold trades above the 4457 pivot, the bullish structure remains intact, with 4497 as the first key resistance. A confirmed breakout and stability above 4497 would strengthen bullish momentum and support continuation toward 4529, followed by 4567. On the downside, bearish momentum would require a confirmed 1H candle close below 4457. Such a break would weaken the current bullish structure and open the way toward 4438, followed by 4400. With NFP due today, volatility could increase sharply. A softer jobs report could further reduce Fed hike expectations and support the bullish scenario, while stronger-than-expected employment data could revive yields and the dollar, putting pressure back on Gold. Pivot Line: 4457 Resistance: 4497 – 4529 – 4567 Support: 4438 – 4400