Gold (XAU/USD) pulls back down to just below $2,500 per troy ounce on Monday after retesting its all-time highs on Friday, amid market volatility following the release of a mixed US Nonfarm Payrolls (NFP) employment report.
Gold trades up and down within a range under its record highs. US labor market data caused some volatile moves, but the sideways trend holds. US inflation data this week could impact Gold as the next Federal Reserve meeting nears. Gold pulls back down to just below $2,500 per troy ounce on Monday after retesting its all-time highs on Friday, amid market volatility following the release of a mixed US Nonfarm Payrolls employment report.
On the geopolitical front, a ceasefire deal between Israel and Hamas seems even less likely after a gunman from Jordan shot dead three Israelis at a border crossing in the West Bank, in the first such killing since the October 7 terrorist attack. In Ukraine, Russia continues its advance towards the key strategic hub city of Pokrovsk. If successful, it could dramatically impact the war on the eastern front and threaten Ukraine’s whole defensive line in the Donbass.
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