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Gold declines as markets await US data

Quiet movement after strong April gains

📉 Current Situation: The price is retreating slightly from levels above $3,300. Markets are awaiting US nonfarm payrolls (NFP) data, which is slowing the movement. A slight improvement in global risk appetite has reduced demand for gold as a safe haven.

Key Influences:

• The Federal Reserve is expected to remain more cautious in changing interest rates.
• The dollar is relatively stable, limiting gold's gains.
• Geopolitical tensions still provide some support, but they are less influential today.

📊 Outlook:

• Stabilization above $3,240 could allow for an attempt to rise toward $3,275 and then $3,295.
• A break below $3,230 could open the door to a further decline to $3,200 and possibly lower.

Conclusion:

🔸 Gold is currently remaining calm as markets wait, and the short-term trend is neutral to bearish unless new catalysts emerge.