{"id":439249,"date":"2026-10-02T14:06:02","date_gmt":"2026-10-02T07:06:02","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/gold-price-consolidates-below-4200-as-markets-turn-to-nfp-next-439249\/"},"modified":"2026-10-02T14:06:02","modified_gmt":"2026-10-02T07:06:02","slug":"gold-price-consolidates-below-4200-as-markets-turn-to-nfp-next","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/gold-price-consolidates-below-4200-as-markets-turn-to-nfp-next-439249\/","title":{"rendered":"Gold price consolidates below $4,200 as markets turn to NFP next"},"content":{"rendered":"
\n

Gold is continuing to tread water just below the $4,200 mark today, with buyers showing a little more life since overnight trading but still not enough to really change the broader technical picture.<\/p>\n

The rebound from Monday’s sharp selloff is still very much lacking conviction<\/a>, particularly as Treasury yields remain elevated – even if coming off the boil since yesterday. That suggests the overall assessment hasn’t changed all that much for the precious metal, although\u00a0the near-term chart is starting to look a little more encouraging.<\/p>\n

\n

Looking at the hourly chart, gold has managed to climb back above its 100-hour moving average (red line) at\u00a0around $4,164 currently. That comes after buyers have struggled against the key level several times over the past couple of sessions.<\/p>\n

While that’s a modest positive for buyers,\u00a0I wouldn’t get too carried away with that just yet.<\/p>\n

The $4,200 level remains the first obvious test on the chart, followed by the 200-hour moving average (blue line) closer to $4,235 at the moment. Besides that, the $4,240 level will also offer some technical interest as it was\u00a0previously a key support level before breaking down earlier in the week. As such, the region around $4,235 to $4,240\u00a0would need to be reclaimed before the short-term picture starts looking considerably healthier for gold.<\/p>\n

But in zooming out,\u00a0the daily chart tells much of the same story as yesterday.<\/p>\n

\n

Gold remains below its 61.8 Fib retracement around $4,241, while the 100-day moving average (red line) near $4,279 is still some distance away. On the downside, the recent lows near $4,100 continues to provide the first major line in the sand with the psychological $4,000 level sitting below that.<\/p>\n

For now, this still looks very much like a consolidation after the heavy selloff on Monday rather than the beginning of a convincing turnaround.<\/p>\n

And that brings us to the US jobs report later today.<\/p>\n

A softer report could give gold buyers more room to build on the technical improvement in the near-term chart. But if the non-farm payrolls and wage numbers reignite the selloff in Treasuries and send yields higher again, the recovery below $4,200 may prove difficult to sustain.<\/p>\n

With 10-year Treasury yields having touched 5.34% – the highest level since 2002 – this week before easing back,\u00a0the reaction in the bond market<\/a> may ultimately matter as much for gold as the payrolls number itself.<\/p>\n

\n

This article was written by Justin Low at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Gold is continuing to tread water just below the $4,200 mark today, with buyers showing a little more life since overnight trading but still not enough to really change the broader technical…<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-439249","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/439249","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=439249"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/439249\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=439249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=439249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=439249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}