XAUUSD

Gold is emerging as the strongest candidate to be today's potential star. The weak Dollar and expectations of falling U.S. Treasury yields elevate the appeal of Gold, which is a non-interest-bearing asset, to its peak. A weak NFP report, as the markets anticipate, will create "perfect storm" conditions for Gold. In this positive environment, the resistance level of $2365 is expected to quickly become a turning point, with prices making a determined push towards the psychological threshold of $3420, above $3580. On the other hand, a hawkish data set confirming the strength of the U.S. economy, along with rising interest rates and a strengthening Dollar, will create sudden profit-taking pressure on Gold. In such a scenario, a rapid pullback of prices to $3510 and then towards the main support area at $3440 may become inevitable.