Gold rises to near $4,100 ahead of US NFP data - www.tmgm.com

AI desk brief

• Gold reached a two-week high near $4,085 early Friday, attributed to a weaker dollar and lower oil after Democrats’ US midterm sweep. CME FedWatch showed a 70.9% December hike probability; September payrolls were forecast at 65,000, with unemployment at 4.2%.
• OCBC said sustained gains would likely require moderating Fed tightening expectations and recovering investment demand. Stronger employment could support the dollar and pressure gold; payrolls remained an important test.
• The AI-assisted technical analysis places resistance at the 100-day SMA of $4,200, with a break higher opening $4,250. Support lies near $4,070, then $3,895; a decisive drop below the latter would reinforce bearish pressure. RSI of 49.63 indicates neutral-to-slightly-positive momentum, with gold still below its 100-day SMA.