XAUUSD GOLD 4-6-24

📌📊XAUUSD SPOT GOLD : 4-6-24📊

Gold Prices decline on Friday continue to plummeted to $2314.20 this This downturn was influenced by a weakening US Dollar and negative yields on US Treasury bonds, as observed at 16:34 on May 31, 2024.

Since last 3 weeks from 23rd May 24 to 4th June 24 Gold have been trending in 50$($2312-$2363)movement only, in comparison to last 4 months of average 150-220$ Movement in a couple of weeks. 💹

🟢February 24-$160, movement is observed in range $2045-$2091
🟢March 24- $349, movement is observed in range $2080-$2327
🟢April 24- $317,movement is observed in range $2330-$2277
🟢May 24-$283(above data include last 2 weeks of May 24 )

Key Economic Data Points:🔴

Wednesday: ADP Employment Change and ISM Services PMI data for May. A positive outcome could support the USD.‼️
Friday: Crucial jobs report for May. April’s Nonfarm Payrolls (NFP) increase of 175,000 led to USD selling pressure. Federal Reserve officials minimized the impact of the disappointing jobs data.‼️