business π° NFP to decide gold's next big move
Gold is currently rising despite a steady dollar index near 100 and rising 10-year yields toward 4.67%. This rally is fueled entirely by traders repricing the probability of September not happening. Economists are expecting 80,000 jobs with unemployment at 4.2% and wage growth near 3.5% at 12:30 GMT. A soft jobs print would support the metal's push past resistance, while a strong report challenges the current upward trend. The market is watching this payroll data closely to confirm or break the current momentum. π