Gold Retreats From One-Month High Ahead of Key US Labor Data

Gold Retreats from One-Month High as Focus Turns to US JOLTS Data

Gold Price Pauses After Strong Start to the Week

The price of Gold is pulling back after a sharp 2.80% surge on Monday, which brought it to levels not seen since May 8. As of Tuesday, the yellow metal is consolidating around the $3,350 mark, a key psychological level.

US Dollar Recovery Attempts Are Muted

The US Dollar (USD) is showing signs of a modest recovery, but gains are limited due to persistent trade tensions. Market participants remain cautious following US President Trump's ultimatum for countries to submit trade proposals by Wednesday and rumors of possible talks with China’s President Xi Jinping.

"Concerns about escalating tariffs continue to drive safe-haven demand, although short-term profit-taking is triggering today's pullback in gold," analysts suggest.

JOLTS Job Openings Data in Focus

Investors are turning their attention to today’s release of the JOLTS (Job Openings and Labor Turnover Survey) at 14:00 GMT, a key indicator of the US labor market's strength. April’s job openings are expected to dip slightly to 7.1 million from March’s 7.192 million, providing a potential signal for broader employment trends heading into Friday’s Nonfarm Payrolls (NFP) report.

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