Gold Tests Critical Support Following Strong U.S. Jobs Report

Gold remains under pressure following the stronger-than-expected U.S. Non-Farm Payrolls (NFP) report, which reinforced expectations that the Federal Reserve may keep interest rates higher for longer. The stronger labor market data has supported the U.S. dollar and Treasury yields, creating a challenging environment for gold. Despite the recent selling pressure, gold continues to hold above the key 4,360 support level, preventing a broader bearish breakdown for now.

Technically, gold is trading in a corrective phase and remains at an important decision point. As long as prices stay above 4,350, buyers still have a chance to stabilize the market. However, continued weakness after the positive NFP release suggests bearish momentum remains in control. A break below 4,350 could open the door toward 4,300, and potentially 4,060.

On the upside, gold must reclaim the 4,580 resistance to improve the bullish outlook. A successful breakout above this area could target 4,660.

Overall, gold remains at a critical juncture. The stronger NFP data has increased downside pressure, but as long as support at 4,350 holds, the broader bullish structure remains intact. The next major move will likely depend on whether sellers can force a break below support or buyers can regain momentum and push prices back above key resistance.

XAU/USD Daily Chart