Commodities
Gold Price Hinges on ISM PMI and NFP Week
The gold price is trading near $4,064 ahead of key U.S. economic data releases, including the ISM Manufacturing PMI and Non-Farm Payrolls.
These reports are expected to influence Federal Reserve expectations, Treasury yields, and the U.S. dollar, which in turn will impact the gold price.
A strong central bank buying trend has been observed, with a 62% year-over-year increase in purchases in Q2 2026.
The World Gold Council projects limited supply growth for the rest of the year due to extended development times of new mining projects.
For gold to break out above resistance, it needs to hold above $4,061 and then target the next key level at $4,112.