Gold prices recovered sharply after weak US jobs data. It hits an intraday high of $3345 and is currently trading around $3344.75.
With only 73,000 jobs added—much below projections and representing the poorest job creation in almost two years—the American labor market slowed significantly in July 2025. This slowdown, together with a modest increase in the unemployment rate to 4. 2%, indicates a decline in demand for labor. Although average hourly earnings rose as predicted, suggesting little real-income rise free of fresh inflationary worries, the whole picture points to companies cutting back on recruiting as a result of continuing uncertainty. Though the report points to a rebalancing rather than a job market catastrophe, this obvious shift in momentum apparent over revised prior figures and several industries stresses the Federal Reserve to think about softening monetary policy if the cooling trend continues.
According to the CME Fed Watch tool, the chances of a rate cut in the Sep 17th 2025 meeting have increased to 67% from 61.90% a week ago.
Technical Analysis: Key Levels and Trading Strategy
Gold prices are holding above the short-term moving averages, 34 EMA and 55 EMA, and above the long-term moving averages (200 EMA) on the 4-hour chart. Immediate support is at $3320, and a break below this level will drag the yellow metal to $3300/$3290/$3275/$3245/$3200. The near-term resistance is at $3350 with potential price targets at $3360/$3385/$3400/$3420/$3450/$3475/$3500/$3550.
It is good to buy on dips around $3330 with a stop-loss at $3300 for a target price of $3400.


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