Gold price loses momentum as soft US jobs report fails to spark rebound - investingLive

AI desk brief

Gold is struggling to extend the post-payrolls bounce because Treasury yields remain stubbornly high, keeping the non-yielding metal under pressure despite a softer US jobs report. NFP rose just 29k in September versus about 90k expected, and unemployment ticked up to 4.2%, but 10-year yields only briefly dipped before rebounding and remain near 5.26%.

Spot gold is trading just below $4,140, with the late-September low area at $4,115-20 and the 78.6% retracement around $4,117 now a key support test. A break lower would expose the $4,000 psychological level, while resistance sits near the 100-hour moving average around $4,163 and the 200-hour moving average near $4,215.