Gold traded within a narrow range on Thursday, with the XAU/USD pair showing minimal movement as the market digested a mixed set of delayed US jobs data for September. The exchange rate hovered near $4,080, having retreated from a brief climb above the key $4,100 psychological level during the session. Trading activity was subdued as investors sought clearer signals from the economic indicators.
The delayed Nonfarm Payrolls and wage growth figures presented a conflicting picture of the US labor market, leaving traders uncertain about the Federal Reserve's future policy path. This indecision limited decisive moves in the dollar-denominated asset, keeping the currency pair contained. The US Dollar itself exhibited stability, with the DXY index holding its ground amid the data assessment.
With the jobs data failing to provide a clear directional catalyst, the gold market appears to be in a holding pattern. Traders are likely to remain cautious, awaiting further catalysts to determine whether the precious metal can mount a sustained challenge above the $4,100 resistance level or if it will retreat towards lower support zones.
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Data Source: GrowingPool Analysis Team Updated: 2025-11-20 16:54
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.