{"id":51341,"date":"2026-03-06T13:34:26","date_gmt":"2026-03-06T13:34:26","guid":{"rendered":"https:\/\/xlence-com.wp-dev.int.theitops.net\/news-analysis\/golds-weekly-us-november-employment-data-could-shake-golds-price\/"},"modified":"2026-03-06T13:34:28","modified_gmt":"2026-03-06T13:34:28","slug":"golds-weekly-us-november-employment-data-could-shake-golds-price","status":"publish","type":"news_analysis","link":"https:\/\/www.xlence.com\/ko\/news-analysis\/golds-weekly-us-november-employment-data-could-shake-golds-price\/","title":{"rendered":"Gold\u2019s Weekly: US November employment data could shake gold\u2019s price"},"content":{"rendered":"\n<p>Gold\u2019s price has renewed its bullish tendencies <a href=\"https:\/\/www.xlence.com\/ko\/news-analysis\/gold-outlook-fed-rate-cut-risk-geopolitics-key-levels\/\" target=\"_blank\" rel=\"noreferrer noopener\">since our last update<\/a>. In the current update we are to have a look at the US financial releases that could shake gold\u2019s price, the validity of the negative correlation of gold with the USD and latest developments that could affect the course of gold\u2019s price. We are to conclude the report with a technical analysis of gold\u2019s daily chart.   <\/p>\n\n<ul class=\"wp-block-list\">\n<li>With the Fed cutting rates as expected, the bank also seemed to be signalling a slowing of the rate cutting pace in the coming year with its new dot plot. Yet the struggle within the Fed for further easing of its monetary policy seems to be intense. Hence we highlight any further comments expressed by Fed policymakers as potentially moving gold\u2019s price. Fed hawks such as Kansas Fed President Schmid and Chicago Fed President Goolsbee could make comments weighing on golds price, while doves such as NY Fed President Williams and Fed Board Governor Miran could make statements that lift gold\u2019s price in the coming weeks.    <\/li>\n\n\n\n<li>Yet in the coming week gold traders may be more interested in the release of the high impact US financial data such as November\u2019s US employment report tomorrow. The NFP figure is expected drop to 40k if compared to September\u2019s 119k, the unemployment rate fail to drop and remain unchanged at 4.4% and the average earnings growth rate to slow down to 3.6%yy if compared to September\u2019s 3.8%yy. The prognosis tends to imply further cooling in the US employment market which may add more pressure on the Fed to cut rates further. Should we see the actual rates and figures implying a wider than expected slack in the US employment market we may see gold\u2019s price getting some support while on the flip side should the data be better than expected showing a narrower slack or even a tightening of the US employment market, we may see the release weighing on gold\u2019s price.   <\/li>\n\n\n\n<li>Besides the US employment data we also note the release of the US CPI rates for November on Thursday and the PCE rates for October on Friday. Should the rates show a resilience of inflationary pressures in the USD economy, the release may add more pressure on the Fed to keep rates unchanged in order to tame inflation and thus the release could weigh on gold\u2019s price and vice versa a possible easing of inflationary pressures could provide some support for gold\u2019s price. <\/li>\n\n\n\n<li>Over the past few days we note that gold\u2019s price has been on the rise while at the same time the USD index, a instrument monitoring the movement of the USD against a basket of other currencies, has been losing ground, marking a weakening of the USD against its counterparts. Hence one could assume that the negative correlation of the two trading instruments seems to be in effect since last Wednesday. Hence should we see the USD retreating further against its counterparts in the FX market, we may see gold\u2019s price benefitting. Furthermore we note that the wide drop of US bond yields for the past week may have also aided the rise of gold\u2019s price, as the drop of US bond yields may have increased the attractiveness of the shiny metal.   <\/li>\n\n\n\n<li>Also on a geopolitical level we note the continuous efforts for a peace plan in Ukraine. Despite our hopes for an agreement to be reached are currently low, we must note that should such a deal be struck, or even more concrete evidence be presented for material progress in the peace negotiations, we may see gold\u2019s price retreating as the market\u2019s worries may ease. <\/li>\n<\/ul>\n\n<h2 class=\"wp-block-heading\" id=\"h-gold-technical-analysis\">Gold Technical analysis<\/h2>\n\n<p>Since our last update, gold\u2019s price renewed its bullish tendencies by breaking the 4240 (S1) resistance line, now turned to support. Given that the price action has broken the upper boundary of its past sideways motion which we switch in favour of a bullish outlook for the precious metal and we intend to keep it as long as the upward trendline guiding gold\u2019s price since the 28<sup>th<\/sup> of October, remains intact.  <\/p>\n\n<p>We also note that the RSI indicator has surpassed the reading of 70, implying the presence of a strong bullish market sentiment for the shiny metal\u2019s price, yet at the same time the indicator may be implying that the precious metal\u2019s price is at overbought levels and is ripe for a correction lower. We get similar signals from the upward direction of the median of the Bollinger bands, but also from the flirting of gold\u2019s price action with the upper Bollinger band which may slow down the bulls or even cause a correction lower.  <\/p>\n\n<p>Should the bullish outlook to be maintained we would require gold\u2019s price to break above the 4375 (R1) resistance line clearly, a level that marks an all time high level for the precious metal\u2019s price and set as the next possible target for gold\u2019s bulls the 4500 (R2) resistance barrier. For a bearish outlook to emerge, we would require gold\u2019s price to drop, break initially the 4250 (S1) support line and continue to break the prementioned upward trendline clearly, in a first interruption of the upward movement and start actively aiming, if not reaching the 4130 (S2) support level. <\/p>\n\n<p><strong>XAU\/USD Daily Chart<\/strong><\/p>\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"698\" height=\"323\" src=\"https:\/\/xlence-com.wp-dev.int.theitops.net\/wp-content\/uploads\/2025\/12\/Picture1.png\" alt=\"EUR\/USD chart displaying price action trends, with a focus on gold market influences.\" class=\"wp-image-44109\"\/><\/figure>\n\n<ul class=\"wp-block-list\">\n<li>Support: 4240 (S1), 4130 (S2), 4000 (S3)<\/li>\n\n\n\n<li>Resistance: 4375 (R1), 4500 (R2), 4650 (R3)<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Gold\u2019s price has renewed its bullish tendencies since our last update. In the current update we are to have a look at the US financial releases that could shake gold\u2019s price, the validity of the negative correlation of gold with the USD and latest developments that could affect the course of gold\u2019s price. We are [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50998,"template":"","news_category":[180],"class_list":["post-51341","news_analysis","type-news_analysis","status-publish","has-post-thumbnail","hentry","news_category-weekly-insights-gold"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>old Outlook: Fed Signals, US Jobs Data &amp; Inflation Risks<\/title>\n<meta name=\"description\" content=\"Gold outlook amid Fed signals, NFP, CPI and PCE data, USD weakness, bond yields and geopolitics shaping gold price direction.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.xlence.com\/ko\/news-analysis\/golds-weekly-us-november-employment-data-could-shake-golds-price\/\" \/>\n<meta property=\"og:locale\" content=\"ko_KR\" 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