From TradingView · · 50s
Gold Price Stabilizes Near $4,070
Gold price holds near $4,070 after U.S. jobs report pushes dollar higher.
In brief
Gold price holds near $4,070 after U.S. jobs report pushes dollar higher. Gold price stabilized around $4,070 following stronger U.S. labor data that increased dollar strength and Treasury yields. Originally reported by TradingView.
Gold Auction Status
XAUUSD is moving from directional recovery into rebalancing auction.
Recent U.S. Labor Data
October U.S. nonfarm payrolls increased 165K versus 65K expected, unemployment edged down to 4.1%.
Dollar and Gold Reaction
Dollar rose 0.7%, Treasury yields increased, and gold fell more than 1% intraday to $4,033.
Current Gold Price Range
Price is developing short-term auction around $4,055, $4,075.
Key Auction Levels
Upper Value Reclaim at $4,085, $4,102, Lower Balance Test at $4,030, $4,045, Major Lower Value at $3,965, $3,982.
Auction Scenario
Price may test lower balance before attempting upper value reclaim if acceptance fails.
The takeaway
Gold price stabilized around $4,070 following stronger U.S. labor data that increased dollar strength and Treasury yields.
