Gold Prices Tick Higher Amid Nonfarm Payrolls and Geopolitical Tensions
Gold prices edged higher on Friday, supported by weaker-than-expected nonfarm payrolls data and escalating geopolitical tensions, which boosted investor sentiment.
Nonfarm Payrolls and Geopolitical Tensions Support Gold Prices
The weaker-than-expected nonfarm payrolls data, which fell short of expectations, has raised concerns about the US economy, supporting gold prices. Additionally, escalating geopolitical tensions have further fueled the rally.
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Key Market Data
- Gold prices rose 1% to $1,802.50/oz
- Nonfarm payrolls data fell short of expectations
- Global gold demand increased
Market Outlook
The current market sentiment is bullish for gold, with investors expecting further price increases amid ongoing economic
Technical Analysis: Gold Prices
- Support levels: $1,790, $1,780
- Resistance levels: $1,820, $1,830
Trading Strategies for Gold Amid Nonfarm Payrolls and Geopolitical Tensions
Investors should track economic data and geopolitical updates and adjust their trading strategies accordingly.
Gold Price Forecast: What to Expect from Global Demand Trends
Experts predict gold price fluctuations amid ongoing demand uncertainty.
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