Gold Consolidates Ahead of NFP, Safe-Haven Sentiment Still Strong
Gold prices fell slightly this morning (-0.2%) to around $3,349, as market players await the release of US Employment Data (Non-Farm Payrolls + ISM PMI) which will be the next major catalyst
Global geopolitics are still heating up, major central banks such as the PBoC continue to add gold reserves, and the US fiscal deficit has increased significantly, all supporting demand for gold as a safe-haven asset
Barron's said many analysts are targeting $4,000 per troy ounce thanks to a combination of global uncertainty and a falling dollar. Meanwhile, HSBC raised its average target for 2025–2026 to the range of $3,215–$3,125 per troy ounce, citing high volatility but the view remains bullish on its fundamentals.
Recommendation:
Buy if price breaks above $3354
Sell if price breaks below $3344
Resistance 2: $3366
Resistance 1: $3356
Support 1: $3339
Support 2: $3330
Note: This article is intended for analysis and not as a definitive reference. Always pay attention to fundamental and technical developments before making investment decisions.
Source: Newsmaker.id
