Gold Holds Above $5,000 as Markets Await Key US Economic Data

Financial markets maintained a cautious approach as participants awaited the release of important US economic indicators, including Nonfarm Payrolls and the Consumer Price Index.

Gold prices stayed above the $5,000 mark, with market activity described as subdued and attention centered on upcoming US data releases. The US dollar’s weaker performance contributed to the support for gold and other commodities.

Oil prices showed firmness, with the retreating US dollar and ongoing geopolitical uncertainty providing additional support. Meanwhile, gold’s elevated position above $5,000 reflected the broader market’s focus on economic developments in the United States.

US equity futures saw modest gains, while European markets displayed a more cautious stance ahead of the anticipated US economic reports. The softer US dollar played a role in supporting equity valuations during this period.

What the numbers show

• Gold prices remained above $5,000
• A break above $5,050–$5,100 is needed to revive gold’s upside momentum
• Key US data releases include Nonfarm Payrolls and Consumer Price Index

The DAX index was identified as approaching a potential breakout, with technical indicators suggesting bullish momentum. However, market participants awaited further direction from the upcoming US data before making significant moves.

Analysts noted that a sustained move above the $5,050 to $5,100 resistance zone would be required for gold to regain upward momentum. Until such a breakout occurs, gold is likely to remain within its current range as traders monitor economic signals.

Overall, the combination of a weaker US dollar, steady gold prices, and firmer oil values contributed to a cautious but attentive market environment. Investors continued to watch for signals from US economic data to inform their next steps.

* This article is based on publicly available information at the time of writing.