XAUUSD

Today is a "decision day" for the precious metal. The fate of Gold, which is highly sensitive to interest rates, depends on the US employment report that will be released at 16:30 Turkish time. A data set indicating weakness in the labor market (low employment, rising unemployment rate) could be interpreted as the Fed being closer to interest rate cuts, pulling down the Dollar and bond yields, which would be the strongest positive scenario for Gold. Conversely, strong data that exceeds expectations would increase selling pressure on the precious metal by keeping "hawkish Fed" expectations alive.