September's long-overdue US jobs report offered a traditional mixed bag: nonfarm payrolls increased 119,000—more than double the anticipated 51,000—driven by strong hiring in healthcare and restaurants; however, the unemployment rate rose to 4.4%, its highest since October 2021, confirming a softening labor market. With October data still missing owing the government closure, the conflicting signals—strong job creation combined with increasing unemployment—have confused the December outlook of the Fed and lowered rate-cut probabilities to just 35–40%. Many experts have penciled in the next easing move for early 2026.
Gold cut some of its gains on the softening of the Fed rate. Presently at roughly $4033, it fell an intraday low of $4021.
Near-term support - $4000. Any breach below will drag the yellow metal down to $3960/$3934/$3895/$3800/$3770/$3500.
Significant resistance - $4050. Any violation above this level will push the commodity to $4065/$4100/$4155.
It is good to buy on dips around $3900 with SL around $3800 for a TP of $4300.
