XAUUSD

Although gold is trying to hold above the 3760 pivot level, it may experience a volatile trend throughout the week due to the heavy flow of data coming from the US. The most critical day for gold will be Friday. If the US Non-Farm Payroll data, to be released on October 3, comes in significantly below the market expectation of 51K, expectations may rise that the Fed could cut interest rates, leading to a weaker dollar. This situation could act as a strong bullish trigger for gold, quickly pushing its price to 3786 (Resistance 1) and then to 3809 (Resistance 2). However, a strong employment figure that exceeds expectations would increase demand for the dollar, creating pressure on gold and bringing the levels of 3737 (Support 1) and 3711 (Support 2) into focus. Additionally, the CB Consumer Confidence data on September 30 and the ISM PMI data on October 1 will also influence direction for the remainder of the week.