FxWirePro- Gold Daily Outlook (US session)
Gold formed a double bottom around $2470 and showed a minor pullback after weak US jobs data. It hit a low of $2471.95 at the time of writing and is currently trading around $2494.
JOLTS job openings declined to 7.67M lowest level since Apr 2021.
The yellow metal is trading below 34 and 55 H EMA in the 4-hour chart ($2500 and $2499). The weakness can be seen only if it closes below $2470. A break below targets $2450 is possible.
US dollar index- It is consolidating after forming a minor top around 101.91. Any close above 102 confirms minor bullishness.
The yellow metal faces minor resistance around $2500, a breach above will take it to the next level of $2508/$2515/$2525/$2530/$2550.
It is good to buy on dips around $2470 with SL around $2450 for a TP of $2530.
