- Markets relatively calm awaiting the US employment report.
- XAU / USD remains in the range of the last few days, without moving away from $ 1810.
The gold is trading a small profit on Friday around $ 1813, ahead of the August US employment report. The XAU / USD is moving sideways since the beginning of the week without moving away from $ 1,810.
The precious metal hit $ 1,814 on Friday after bouncing off $ 1808. The rise occurred despite a slight appreciation of the dollar in the market and a rise in the yields of Treasury bonds. Anyway, moderate routes dominate.
The US labor market data could create noise and drive a breakout of the range in gold. So far this week, the XAU / USD found support at $ 1805 and $ 1801, while the upside, could not overcome the $ 1820 barrier.
Non-farm payrolls are expected to slow down and have risen by 750,000 in August. The unemployment rate would have fallen from 5.5% to 5.2%. A positive data could boost the dollar in the market and the yields of the Treasuries, which would be detrimental to gold. In addition to the employment data, the final reading of the service sector IHS Markit and the non-manufacturing ISM will be published in the US.
Technical levels
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