Gold prices are testing the $4,800 resistance level. The metal holds above $4,400 after rebounding from key support.
Mixed labor data influences gold’s next move. Strong payroll numbers contrast with weaker underlying labor trends.
Gold recovered from its 200-day Simple Moving Average (SMA). This move brought it to the $4,800 level.
Traders are watching to see if gold can break past $4,800. The market may also stay in a consolidation phase.