The precious metal pared losses as prices reversed on Thursday.
Following this, gold broke past the 1900 level of resistance to briefly test the 1911.50 region.
Considering that this level held up as support earlier, the resistance level is likely to hold for the moment.
Within the medium-term outlook, we could expect gold prices to potentially make a retracement.
Today’s payrolls report will likely be the catalyst. The bias in gold will change if we see a daily close above the 1911.50 level.
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