GOLD → Correction before growth and breakthrough of 3900...

XAUUSD has reached a new high of 3895. The dollar is recovering from its decline, and gold may form a correction. As prices rise, economic risks associated with NFP and the US government shutdown are increasing

The suspension of NFP publication deprives the Fed and markets of a key benchmark for the labor market, increasing demand for defensive assets. The probability of a rate cut in October is estimated at 100%. Mixed JOLTS data (weak hiring) and fiscal risks are weighing on the USD, which in turn supports gold.
Thus, the shutdown creates ideal conditions for gold to rise — uncertainty about Fed policy, a weaker dollar, and a flight to safety. Breaking through the $3900 level seems a likely scenario.

Resistance levels: 3900, 3925
Support levels: 3871, 3854, 3831

A correction is forming after a small rally in the European session. Before continuing its growth, the market is entering a correction/consolidation phase. I have indicated the key support levels on the chart. If the bulls manage to keep the price above these zones, then we can expect continued growth in the short and medium term

Best regards, R. Linda!