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βͺοΈWill resilient US job markets stop gold prices' bullish momentum?
β’ US job markets show resilience with higher openings and lower layoffs, while the voluntary quits rose.
β’ However, the latest Unemployment Rate showed a slight uptick, with federal efficiency not having kicked in.
β’ According to the CME FedWatch Tool, the Fed may hold the rate in the Mar FOMC meeting, which could be due to the stronger job markets with the implications of the retaliatory tariffs to the US.
β’ XAUUSD briefly traded below 2900 and EMA21 but recovered above both levels. However, the price has not shown its potential for further bullish continuation, with both EMAs flattening.
On the contrary, if XAUUSD returns below 2900, a retest at the following support at 2850 may occur.
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ππππππ ππππ πππ π945/2947
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Gold edged lower as trade tensions continued to im-pact market sentiment, while the Fed sees no urgency to cut rates.
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ππππππ BUY πππ 2910/2908
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