XAUUSD - BUY XAU/USD SpotFX:XAUUSDNZ_SharemanWorse than Expected ADP A loss of 33,000 jobs in June, far below expectations. Bullish for Gold Immediate Target : $3,385 The shockingly weak ADP jobs number is bullish for gold. Such a negative surprise amplifies fears about the U.S. labor market and boosts expectations for Federal Reserve rate cuts. As a result, the U.S. dollar is still under pressure, and safe-haven demand for gold is in focus again. With gold already in a strong uptrend, this ADP miss provides fresh momentum for a move higher. Traders position for more dovish Fed policy and continued economic uncertainty. Means a drop in Interest Rates which means a continued Weaker Dollar and Interest rate returns ie Bond Yields, so might as well bet on gold. Lets see : )