Gold likely needs a decisive move above the $4,730-$4,750 an ounce range to
sustain further gains, XS.com’s Linh Tran says. The metal remains supported in
the near term by a weaker dollar and lower U.S. Treasury yields, she notes.
However, gold could turn rangebound again if it fails to clear resistance. Tran
adds that the upcoming U.S. nonfarm payrolls report may be a key catalyst, with
weaker-than-expected data potentially reinforcing expectations for a more dovish
Federal Reserve and supporting bullion prices.
