Gold Moves in Stiff Boundaries Ahead of U.S. NFP Job Results and ISM Manufacturing PMI data, $15+ Volatility Likely in Gold; April 01, 2022

Key U.S. Indicator To Keep In Mind While Trading In Gold During U.S. Session:

Today the most awaited news NFP job data will come out at 1230 GMT/1600 IST and thereafte U.S. ISM Manufacturing PMI data will release at 1400 GMT/1930 IST.

Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity. Unemployment is also a major consideration for those steering the country’s monetary policy.

While ISM Manufacturing PMI is a leading indicator of economic health – businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company’s view of the economy. Is is derived via a survey of about 300 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories.

Let’s see how gold has reacted during the previous data release:

March Results:

Feb Results:

Let’s check out key headlines from Russia –Ukraine:

  • Ready to supply to India any goods which it wants to buy from us, Russian foreign minister says.
  • I have not heard about India mediating in Ukraine crisis, but open to India mediating: Russian foreign minister Lavrov.
  • We will be ready to supply to India any goods which it wants to buy from us. We are ready to discuss. Russia & India have very good relations.
  • Talks are characterised by relations which we developed with India for many decades. Relations are strategic partnerships … This was basis on which we’ve been promoting our cooperation in all areas: Lavrov on how they can support India in terms of security challenges.
  • Russia’s central bank said on Friday it was softening restrictions on foreign fund transfers for individuals for a six-month period.
  • Russia is continuing to withdraw some of its forces from Ukraine’s northern Kyiv region and they are heading towards Belarus, the local governor said on Friday.
  • India always favoured resolving disputes through diplomacy: Jaishankar.
  • India and Russia have been developing strategic partnerships and this has been our priority. We certainly are interested in having the world order balance. We have intensified our bilateral context. Our President has sent his best regards to PM Modi: Lavrov.
  • Australian Prime Minister Scott Morrison said Friday that his country will be sending armored Bushmaster vehicles to Ukraine to help in its war against Russia.

Source: Times of india

Technical View:


  • Gold trades marginally lower on Friday ahead of U.S. NFP and ISM Manufacturing PMI data.
  • Today pair made intraday high at $1,939 and low at $1,929 mark.
  • A triple EMA on a day chart and H1 chart suggest up trend for the time being.
  • A sustained close above $1,942 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $1,926 will check further supports.
$1,926 $1,942
$1,921 $1,948
$1,916 $1,955
$1,911 $1,961
$1,906 $1,967

Take a look and do trade wisely!
Good Luck

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