Gold (XAU/USD) has stabilized around $4,475 after initially dipping to $4,453 during the intraday trading session. As the European market opens, the precious metal is trading near the upper limit of its daily range. However, the potential for upward movement appears constrained as traders adopt a cautious stance ahead of the crucial US Nonfarm Payrolls (NFP) report set for release later today.
Market participants are closely monitoring the NFP figures, which could significantly impact the USD and overall market sentiment. A stronger-than-expected jobs report might bolster the dollar, potentially placing downward pressure on gold prices. Conversely, a disappointing outcome could lend support to gold as a safe-haven asset. As the trading day unfolds, all eyes will remain on the NFP data for fresh direction in this closely watched currency pair.
About FX Killer Trader Incubation Program
Want to become a professional trader? FX Killer offers a completely free professional trader training program. We provide systematic courses, practical training, and professional mentorship to help you grow from beginner to full-time trader.
👉 Join Free Training Program | Trading Psychology Assessment
Data Source: FX Killer Analysis Team Updated: 2026-01-09 07:45
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.