Gold (XAU/USD) holds near $2,140 as weaker-than-expected US ADP private payrolls data fuels expectations of earlier Fed rate cuts. This supports the precious metal despite Fed Chair Powell avoiding concrete timelines for rate reductions.

Market focus now shifts to JOLTS Job Openings data for further insights into labor demand. Gold is approaching its all-time high near $2,145 after a bullish breakout from a Symmetrical Triangle pattern, signaling potential for further gains. The Relative Strength Index (RSI) remains above 60, indicating bullish momentum, though it has reached overbought territory.

Key Points:

• Weaker Jobs Data Supports Gold: Lower private payrolls suggest the Fed may ease rate hikes sooner.
• Record High in Sight: Gold’s bullish breakout targets its all-time high near $2,145.
• Watch RSI: While overbought, the RSI continues to signal bullish momentum.