Gold under pressure below 4100 as US labor data surprises to the upside

Gold prices remain under pressure below the 4100-dollar mark after US initial jobless claims fell to 194000, below the expected 200000, marking the lowest level since late July. The four-week moving average eased to 197750, while spot gold traded at 4076 dollars per ounce, down 1.5 percent on the day. GivTrade analyst Waleed Said pointed out that layoffs are not accelerating and PPI at 6.3 percent leaves the Fed with no reason to ease policy. He noted continuing claims rose to 1.728 million, signaling slower hiring, and stressed that a solid labor print combined with a hawkish Fed is weighing on gold despite ongoing conflicts. Capital.com head of research Monte Safieddine warned that the market must defend the 4000-dollar support level. He cautioned that geopolitics risks turning inflationary through higher oil prices and yields, giving central banks less room to cut rates unless a severe risk-off event unfolds.