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GOLD PRICE HOVERS NEAR $3,100; BULLISH BIAS REMAINS AHEAD OF US NFP REPORT

Tina Collins

Tina Collins

— 1 min read
GOLD PRICE HOVERS NEAR $3,100; BULLISH BIAS REMAINS AHEAD OF US NFP REPORT
GOLD PRICE HOVERS NEAR $3,100; BULLISH BIAS REMAINS AHEAD OF US NFP REPORT

GOLD PRICE HOVERS NEAR $3,100; BULLISH BIAS REMAINS AHEAD OF US NFP REPORT

Gold prices have recently maintained a strong bullish trend, trading around the $3,100 per ounce mark.

This stability comes ahead of the upcoming U.S. Nonfarm Payrolls (NFP) report, which is anticipated to influence market dynamics.​

Despite fluctuations, gold has shown resilience, holding above the $3,100 level. This stability is attributed to safe-haven demand amid global economic uncertainties. ​

Recent U.S. tariff announcements have contributed to market volatility, enhancing gold's appeal as a safe-haven asset. This has supported gold's price above the $3,100 threshold. ​

The U.S. NFP report, scheduled for release on April 5, 2025, is expected to show an increase of 140,000 jobs in March.

Gold's reaction to this data will be closely watched, as it may influence Federal Reserve policy expectations and, consequently, gold's valuation. ​

Technical analysis indicates a bullish bias for gold, with the 14-day Relative Strength Index (RSI) easing off overbought levels, suggesting potential for further gains.

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