XAUUSD

3282.05 - 3301.38 - 3317.67 - 3320.58 - 3350.82 - 3372.15 - 3380.91 - 3399.22 - 3415.93

Gold is attempting to hold above the pivot level of 3350.82. The rising channel formation on the four-hour chart continues. The possibility of weaker-than-expected U.S. employment data could support gold by strengthening expectations that the Fed may start interest rate cuts earlier. The continuation of gold reserve purchases by central banks and geopolitical risks are also influential in pricing. Technically, if the resistance at 3372.15 is broken, the levels of 3380.91 and 3399.22 may be targeted. In downward movements, the critical areas to watch are 3317.67 and 3301.38 below the support at 3320.58.