GOLD: In a bigger accumulation before moving higher
Today, the US reported NFP data for October and November 2025.
USD Non-Farm Payrolls for October were -105k vs. 119k previously.
USD Non-Farm Payrolls for November were 64k vs. 50k expected.
Initially, the USD started off a bit weak, but as we can see for November we had a strong increase in employment data. This could be the reason why the USD started showing some strength again.
Today gold rose from 4271 during the day and reached 4335 during the news.
The strength of the USD pushed gold back down, but gold should rise soon again. The USD lost the correlation a long time ago. So however the USD could be tomorrow gold may rise further.
In my opinion, we could be in for a larger than normal bullish accumulation before gold moves further to 4350; 4380; 4400 and 4450.
You may find more details in the chart!
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