Gold Soars Above $4,400 as Fed Expectations Shift

Gold has rebounded from its critical $4,000 support zone and is now trading at over $4,360, driven by a weaker U.S. dollar and softer American employment data.

The disappointing jobs report shifted expectations for the Federal Reserve towards a less aggressive monetary policy, boosting gold's appeal.

However, upcoming U.S. CPI data on Wednesday will be crucial in determining whether the recent dollar decline has further room to run.

A softer inflation reading could reinforce expectations for easier monetary policy and provide another boost to precious metals, while higher-than-expected inflation would create a significant problem for the gold rally by encouraging the Fed to maintain a more restrictive stance.