XAUUSD

Gold is showing a strong performance by holding above the pivot level of 3,334.46. According to Bloomberg's report, investors are expecting at least two interest rate cuts from the Fed this year, which is supporting gold prices. If the first resistance level of 3,366.74 is surpassed, the targets will be 3,390.20 and 3,418.06 levels. The U.S. employment data to be announced on Thursday will be significant; a weaker-than-expected data could boost gold prices. Powell's speech on Tuesday will also be a directional determinant for gold. In possible pullbacks, the first support level of 3,278.72 may be tested. The Manufacturing PMI from China remaining at 49.7 in the contraction zone could strengthen demand for gold amid global growth concerns.