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Market & Economic Intelligence Platform Insight on Macro, Commodities, Equities & Policy

7 August 2026 14:59  |

Gold Strengthens Ahead of NFP, Eyes Best Week Since January

Gold prices rose again during Friday's trading session ahead of the release of U.S. Nonfarm Payrolls (NFP) data. On a weekly basis, gold has surged approximately 6% and is on track for its largest weekly gain since January.

Easing inflationary pressures—following a weekly correction in oil prices—have helped alleviate concerns that the Federal Reserve might need to maintain a tight interest rate policy for an extended period.

Gold price at the time of this analysis: $4,297

- Buy if the price moves to $4,304

- Sell if the price moves to $4,284

 

Resistance 2: $4,331

Resistance 1: $4,311

 

Support 1: $4,271

Support 2: $4,251

Note: This article is analytical in nature and does not serve as a definitive recommendation. Please consider the impact of fundamental and technical developments on trading before making any investment decisions.

Source: Newsmaker.id

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