u/Disastrous-Reach-240

Gold still looks weak overall. After the sharp drop from the 4460–4470 area, the market continues to make lower highs and lower lows, which keeps the bearish trend intact. The recent bounce looks more like a short-term pullback rather than a real reversal.

Areas to watch for selling pressure: • 4305–4315

• 4320–4335

• 4370–4380

Support levels: • 4280–4275

• 4265–4260

For now, sellers remain in control unless price can break and hold above the key resistance zones.

The US added 172,000 jobs in May, crushing forecasts of just 85,000. Unemployment stayed steady at 4.3%, showing the labor market is still holding up well.

The immediate reaction was a stronger US Dollar, while Gold and EUR/USD saw some pressure as traders reassessed the chances of future Fed rate cuts.

📌 Key numbers: • NFP: 172K vs 85K expected • Unemployment Rate: 4.3% • Wage Growth: 3.4% YoY

A solid reminder that the US economy remains more resilient than many expected.

What do you think, does this strengthen the case for higher rates for longer?