Gold Prices Jump on Better-Than-Expected US Labor Market Data
Gold prices rose on Friday following the release of strong US labor market data, which showed 263,000 jobs added in September.
Labor Market Strength Supports Gold Demand
The robust labor market report eased recession concerns.
Expert Trading Tips and Analysis for Gold, Silver, Crude Oil, and Natural Gas
- Gold Trading Tips: Consider buying gold on dips.
- Silver Trading Tips: Monitor silver prices.
- XAUUSD Trading Tips: Watch for breakout.
- Crude Oil Trading Tips: Monitor oil supply.
- Natural Gas Trading Tips: Track weather forecasts.
Key Market Data:
- Gold prices rose 0.8% to $1,732/oz
- US unemployment rate fell to 3.5%
- US non-farm payrolls increased by 263,000
Market Outlook:
The current market sentiment is bullish for gold.
Technical Analysis: Gold Prices
- Support levels: $1,720, $1,700
- Resistance levels: $1,750, $1,770
What’s Next for Gold Prices?
Investors await Federal Reserve decisions.
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