XAUUSD

Gold is trading near the pivot level of 3330.73. Resistance: 3340.21-3358.00-3375.10; Support: 3298.56-3272.53-3258.19. Today's U.S. unemployment claims (expected 236K) will be monitored. High data could strengthen the perception that the Fed might start cutting rates earlier due to weakness in the labor market and could push gold higher. While there are opinions in the FOMC minutes suggesting that no rate cuts may occur in 2025, geopolitical tensions and central bank gold purchases are supporting prices.