Gold continued its uptrend on Friday, rising 0.24% to $2,862, as escalating US-China trade tensions and a mixed US employment report fueled demand for the safe-haven asset. President Trump’s threat of new reciprocal tariffs boosted bullion, with weekend uncertainty likely to sustain inflows.
US Nonfarm Payrolls missed expectations, but a dip in the unemployment rate signaled labor market resilience, limiting expectations of aggressive Fed rate cuts. Gold briefly surged to $2,886 before retracing.
Additional support came from China’s central bank increasing gold reserves and cautious Fed remarks. Fed officials indicated a patient stance on rate cuts, with real US yields rising slightly, creating a headwind for further gold gains.
Technically, gold faces resistance at $2,900, with potential upside to $2,950 and $3,000. A drop below $2,800 could see support at $2,750 and $2,730.


