👀 Possible scenario:
Gold (XAU) fell 0.57% on June 5 after weak U.S. jobs data and rising jobless claims raised concerns over slowing economic growth. A drop in imports added to fears of weakening demand and a softening labor market.Prices also dipped as U.S.-China tensions eased following constructive talks between Presidents Trump and Xi, improving market sentiment.
The key event on June 6 is the U.S. Nonfarm Payrolls report, due at 12:30 p.m. UTC. Markets expect a gain of 130,000 jobs in May 2025 — the smallest increase in three months and a slowdown from April’s 177,000. A stronger-than-expected report could weigh on XAUUSD, while weaker data may offer a modest lift to gold prices.
✅ Support and Resistance Levels
Support level is now located at 3,345.00 .
Now, the resistance level is located at 3,410.00
Gold (XAU) fell 0.57% on June 5 after weak U.S. jobs data and rising jobless claims raised concerns over slowing economic growth. A drop in imports added to fears of weakening demand and a softening labor market.Prices also dipped as U.S.-China tensions eased following constructive talks between Presidents Trump and Xi, improving market sentiment.
The key event on June 6 is the U.S. Nonfarm Payrolls report, due at 12:30 p.m. UTC. Markets expect a gain of 130,000 jobs in May 2025 — the smallest increase in three months and a slowdown from April’s 177,000. A stronger-than-expected report could weigh on XAUUSD, while weaker data may offer a modest lift to gold prices.
✅ Support and Resistance Levels
Support level is now located at 3,345.00 .
Now, the resistance level is located at 3,410.00
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.