{
  "id": 11352020,
  "title": "Gold struggles to lure buyers amid bullish USD; eye US NFP for Fed rate cues",
  "url": "https://urgent.news/2026/10/02/gold-struggles-to-lure-buyers-amid-bullish-usd-eye-us-nfp-for-fed",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-02T03:55:15.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/gold-struggles-to-lure-buyers-amid-bullish-usd-eye-us-nfp-for-fed-rate-cues-202610020355"
  },
  "original_language": "en",
  "account": "Gold prices struggled to entice buyers in the Asian session on Friday, as traders remained cautious awaiting the key US Nonfarm Payrolls (NFP) data. The NFP report is anticipated to reveal that the economy added only 90K jobs in September, a stark contrast to the previous month's 162K jobs. The Unemployment Rate is expected to remain stable at 4.1%, while the change in Average Hourly Earnings will be closely monitored for insights into the Federal Reserve's future policy decisions amidst dwindling October rate hike expectations. This, in turn, could impact the US Dollar and provide some support to the non-interest-bearing gold.\n\nRecent comments from FOMC members suggest that an immediate interest rate hike is not deemed urgent after the expected quarter-point increase in September. The Institute for Supply Management reported on Thursday that US manufacturing sector activity expanded for the ninth consecutive month in September, with raw material prices rising for the 24th consecutive month. This inflationary trend, fueled by volatile energy prices, may spur additional Fed tightening measures and limit the steep decline in US bond yields from their multi-year highs.\n\nTensions between the US and Iran further bolster the US Dollar's strength near its highest level since April 2025. The Pentagon may dispatch a third aircraft carrier strike group and 10,000 sailors and Marines to the Persian Gulf, while Iran's Persian Gulf Strait Authority reported attacks on several tankers in the Strait of Hormuz. US President Donald Trump hinted at a potential war with Iran, suggesting a swift resolution either way. This geopolitical uncertainty adds to the appeal of the Greenback as a safe-haven asset, potentially weighing on gold prices.\n\nThe XAU/USD pair remains bearish near the 200-period Simple Moving Average (SMA) on the 4-hour chart and the mid-range Fibonacci retracements. However, the Moving Average Convergence Divergence (MACD) indicator remains positive, with the line above its signal and a constructive histogram. The Relative Strength Index (RSI) around 43 indicates a potential pause in the downside rather than a definitive bullish reversal. Any move above $4,200 may face resistance near the 61.8% retracement at $4,230, while the 50% level at $4,319 and 200-period SMA at $4,386 serve as nearby topside barriers. The 38.2% retracement at $4,408 represents a more distant cap that would need to be surpassed to challenge the current bearish bias.\n\nOn the downside, support is expected at the 78.6% Fibonacci retracement at $4,103, followed by the prior swing low near $3,942. The technical analysis was assisted by an AI tool, and Haresh Menghani, a detail-oriented professional with over 10 years of experience, contributed to the report.",
  "summary": "Gold (XAU/USD) attracts some sellers during the Asian session on Friday, though the downside remains limited as traders opt to wait for the crucial US employment details before placing fresh directional bets.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "British Pound struggles near June 26 lows as USD retains bullish tone ahead of US NFP",
        "url": "https://urgent.news/2026/10/02/british-pound-struggles-near-june-26-lows-as-usd-retains-bullish-tone",
        "published": "2026-10-02T01:10:31.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}