GOLD: Gold Price Forecast for September 4GoldOANDA:XAUUSDStone_HavenXAU/USD is trading around $4,471–$4,472/oz on the H1 timeframe. Following a sharp decline in late August, gold bottomed out around $4,285–$4,300 before staging a rapid rebound. Current market structure indicates that buyers have regained significant control; however, the price is entering a critical resistance zone, particularly ahead of the US Nonfarm Payrolls (NFP) report. Fundamentally, gold is finding support in the weakening US dollar and declining US bond yields, following relatively dovish remarks from Fed Governor Christopher Waller. Waller suggested that if the trend of cooling inflation persists, the Fed could hold interest rates steady rather than tightening further. This shift caused the market-implied probability of a September rate hike to drop from approximately 63% to 50%, providing a significant boost to gold. Nevertheless, the market remains in a "wait-and-see" mode regarding the August NFP data. Current forecasts suggest the US economy may add around 56,000 jobs, with the unemployment rate expected to hold at 4.1%. This data has the potential to trigger significant volatility in XAU/USD today. The fact that the price is holding above the EMA20 and EMA200 indicates a shift toward positive short-term momentum. Notably, the $4,460–$4,465 zone—where the EMA20 and EMA200 converge—has now become a level of immediate support. However, a significant hurdle remains: the downtrend line extending from the $4,700 peak has not yet been decisively broken. This is precisely why I am hesitant to label the current rebound as the start of a brand-new uptrend.