Gold Price Forecast: XAU/USD to slide below $1800 on strong NFP – OCBC

Gold was virtually unchanged on the day, rising a mere 0.02% to close at $1813.90. XAU/USD is expected to continue with its sideways movement ahead of Friday’s Nonfarm Payrolls. A robust report could send the yellow metal below the $1800 level, according to strategists at OCBC Bank.

See – Gold Price Forecast: XAU/USD to see a final rally towards $1900 – ANZ

Gold to hover above $1800 ahead of Friday’s US jobs report

“The last three days saw little intraday volatility in gold price movements and the precious metal has traded cleanly above the $1800 level in the same period. We expect this trend to continue until tomorrow’s jobs report.”

“A strong US nonfarm payroll may send gold back below the $1800 handle.”