#GOLD - Consolidation & compression to 5090. A show of strength
$XAU USD fell back to $5018 after the release of NFP data, but the market is actively buying up the decline and heading towards resistance at 5090. Buyers are waiting for new triggers — US unemployment data and geopolitics
The NFP report was strong, but the dollar performed poorly and was unable to sustain its growth. Most likely, the market quickly digested the strong NFP, focusing on the large downward revision of employment for 2025 (181K instead of 584K).
The renewed tension between the US and Iran (no agreement after talks with Israel) is keeping gold buyers in the game.
Traders are waiting for Friday's CPI as a possible driver. It will determine whether expectations of two Fed rate cuts this year will remain.
Resistance levels: 5090, 5110, 5144
Support levels: 4975, 4902
Technically, everything is moving towards breaking the resistance at 5090. Activation (breakthrough) of the trigger could provoke further growth. I do not rule out that before the growth, the market may test the support at 5050, 4975
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