FX.co ★ XAU/USD, GOLD

Fairly weak US labor market data led to a noticeable bullish candle on GOLD, and the price almost reached the resistance level around 4380. We saw a small correction from this resistance yesterday, and now we’re waiting for the start of the next trading week to understand whether the corrective decline will continue further toward 4200. It’s better not to rush into buying right now and to consider long positions only if 4200 is retested from above. If the 4380 resistance is broken in one go, buyers may then stumble at the next significant resistance area around 4450. I think next week will be volatile.