XAUUSD quotes fell below the 3,000 USD level today following Friday’s robust US employment data. Find more details in our analysis for 7 April 2025.
XAUUSD forecast: key trading points
- US Nonfarm Payrolls: previously at 151 thousand, currently at 228 thousand
- US unemployment rate: previously at 4.1%, currently at 4.2%
- Current trend: correcting downwards
- XAUUSD forecast for 7 April 2025: 3,000 and 3,057
Fundamental analysis
Friday’s US Nonfarm Payrolls data exceeded expectations, with employment rising by 228,000, above the forecast of 151,000. Meanwhile, the unemployment rate edged up to 4.2% from 4.1% a month earlier.
Gold tumbled by more than 1%, briefly falling below 3,000 USD during Monday’s Asian session. Analysts attribute the decline to strong US employment data and investor behaviour — many are selling Gold to cover losses in other asset classes amid a sharp decline in equity markets.
XAUUSD technical analysis
Gold is currently undergoing a downward correction after hitting an all-time high of 3,168 USD last week. The Alligator indicator confirms the corrective movement, with the uptrend likely to resume once the correction is complete.
The short-term XAUUSD price forecast suggests a further decline towards the 2,956 USD support level if the bears gain a foothold below 3,000 USD. Conversely, if the bulls hold prices above the 3,000 USD level, the pair could rise to the 3,086 USD resistance level.
Summary
Gold prices have entered a downward correction, retreating towards the 3,000 USD area after robust US employment data and investors closing some positions to cover losses in stock markets.
