Technical Analysis:
GOLD is has already given a good unmove and there's liquidity lying below previous 1H low which is 2430 after that we might continue to the upside, Gold can either clear upside liquidity 2484 and then move towards 2430.
Fundamentals:
Gold rose to around $2,450 per ounce on Friday, approaching record highs and on track for a weekly gain, driven by recent weak US economic data that bolstered expectations of Federal Reserve rate cuts.
Thursday's data showed US manufacturing activity contracted more than anticipated in July, with employment hitting levels not seen since 2020.
Additionally, jobless claims rose to 249K, the highest in nearly a year.
Investors are now awaiting the monthly jobs report later in the day for further insights.
Meanwhile, the escalating risk of a broader conflict in the Middle East is enhancing gold's appeal as a safe haven.
Markets are closely watching Iran's response to the assassination of Hamas leader Ismail Haniyeh, which follows the killing of Hezbollah's top commander in a Beirut airstrike.
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