XAU/USD rallies to three-week high, targets $4,380

fxstreet.com

Gold climbed above $4,300 on Friday, reaching three-week highs and targeting the $4,380 area, as investors awaited key U.S. jobs data. It is set for its strongest weekly gain since January, rising nearly 7%. July Nonfarm Payrolls are forecast to add 80,000 jobs, though Deutsche Bank expects just 65,000, suggesting a gradual cooling in hiring. Technically, gold broke resistance from April highs, with RSI at 67. Next resistance is near $4,380, then $4,600; support sits at $4,223 and around $4,050.


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