September NFP just changed the Fed narrative and $XAU is the chart I’m watching.
Jobs came in at just +29K vs ~90K expected, unemployment rose to 4.2%, and wage growth cooled to 3.0% YoY. Revisions also erased another 60K jobs from July and August.
That’s a clear softer-labor signal, but the gold reaction matters more than the headline: $XAU spiked toward $4,227, failed below $4,200, and pulled back toward $4,140.
So far, it’s a bounce, not a confirmed breakout.
Key levels:
🔴 $4,200 — breakout confirmation
🟢 $4,110–$4,140 — support zone
If gold can reclaim $4,200 on a daily close, the upside structure strengthens. If $4,110–$4,140 breaks, sellers could regain control.
I’m watching the dips rather than chasing the first NFP spike. Weak jobs only become truly bullish for gold if yields follow through lower.
$XAU
Jobs came in at just +29K vs ~90K expected, unemployment rose to 4.2%, and wage growth cooled to 3.0% YoY. Revisions also erased another 60K jobs from July and August.
That’s a clear softer-labor signal, but the gold reaction matters more than the headline: $XAU spiked toward $4,227, failed below $4,200, and pulled back toward $4,140.
So far, it’s a bounce, not a confirmed breakout.
Key levels:
🔴 $4,200 — breakout confirmation
🟢 $4,110–$4,140 — support zone
If gold can reclaim $4,200 on a daily close, the upside structure strengthens. If $4,110–$4,140 breaks, sellers could regain control.
I’m watching the dips rather than chasing the first NFP spike. Weak jobs only become truly bullish for gold if yields follow through lower.
$XAU
