Last night, unemployment claims data came in much worse than expected, and the U.S. Dollar dropped sharply, supporting Gold prices to surge strongly to $4,285/ounce.
The poor unemployment data further reinforces FED Chair Powell’s statement that the labor market has been “overstated,” and that the new figures are what truly reveal the reality.
Along with the FED cutting interest rates three consecutive times toward the end of 2025, a strong Bullish wave is forming and could potentially explode next week when the Non-farm payroll report is released.
Therefore, at the moment, it is advisable to look for BUY opportunities during strong pullbacks and avoid going against the overall market trend.
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