Global Markets React to Strong U.S. Jobs Data and Rising Yields 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
U.S. Stocks vs. Bonds: Are Diverging Valuations Signaling a Shift? 
Stock Futures Dip as Investors Await Key Payrolls Data 
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes 
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data 
Lithium Market Poised for Recovery Amid Supply Cuts and Rising Demand 
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge 
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures 
Goldman Predicts 50% Odds of 10% U.S. Tariff on Copper by Q1 Close 
European Stocks Rally on Chinese Growth and Mining Merger Speculation 
US Gas Market Poised for Supercycle: Bernstein Analysts 
Energy Sector Outlook 2025: AI's Role and Market Dynamics 
China's Refining Industry Faces Major Shakeup Amid Challenges 
Geopolitical Shocks That Could Reshape Financial Markets in 2025 
Moldova Criticizes Russia Amid Transdniestria Energy Crisis 
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure 
Ichimoku Analysis (4 Hour chart)
Tenken-Sen- $2370
Kijun-Sen- $2351
Gold declined below $2300 after upbeat US jobs data. It hit a high of $2387 yesterday and is currently trading around $2373.
US economy added 272000 jobs in May, above the forecast of 182000. The unemployment rate ticked up to 4% from 3.9%. Average wages rose to 4.1% Yoy vs 3.9% YoY.
US Initial jobless claims - Bearish (positive for Gold)
US ISM maufacturing PMI- Bearish (positive for gold)
Markets eye US FOMC monetary policy on Wednesday for further movement. Any hawkish rate pause will drag the precious metal further down.
According to the CME Fed watch tool, the probability of a no-rate cut in June increased to 99.40% from 95.56% a week ago.
US dollar index- Bearish. Minor support around 104/103. The near-term resistance is 105/106.50.
Factors to watch for gold price action-
Global stock market- Bullish (negative for gold)
US dollar index - Bullish (negative for gold)
US10-year bond yield- Bearish (Positive for gold)
Technical:
The near–term support is around $2290, a break below the target of $2270/$2250. The yellow metal faces minor resistance around $2320 and a breach above will take it to the next level of $2340/$2350/$2375.
It is good to sell on rallies around $2315-18 with SL around $2340 for TP of $2252.
