Gold Prices Await US Jobs Data and Trade Setups, Remain Positive Amidst Fickleness

Gold prices remain uncertain ahead of the release of the US jobs data, with investors cautious about taking large bets. The nonfarm payrolls report could provide insights into the health of the economy and the Federal Reserve's monetary policy outlook. If the data surprises to the upside, it could lead to a scaling back of monetary policy easing wagers, putting upward pressure on Treasury yields and the US dollar, which could be detrimental to precious metals. Conversely, disappointing figures could reinforce dovish interest rate prospects, leading to lower yields and a weaker dollar, potentially boosting gold prices. From a technical standpoint, gold retains a positive profile, with resistance levels at $2,050 and $2,070/$2,075, while support rests near $2,010.