Today's Market Trends and Strategy Analysis

Gold prices rallied sharply during the North American session, above the $2,500 figure on Thursday, yet remain shy of their daily peak of $2,523 as traders booked profits ahead of first-tier United States (US) data. At the time of writing, XAU/USD trades at $2,516, gaining over 0.80%.

In the early morning, US jobs data showed mixed readings, though it confirmed that the labor market is cooling, fueling speculation for a 50-basis-point (bps) interest rate cut by the Federal Reserve (Fed) in two weeks. On the other hand, the economy remains resilient as business activity in the services segment improved against projections of a slowdown. 

Gold opened at around 2516 and rose to around 2515 at the highest and around 2514 at the lowest before press time.Pay attention to the resistance of 2530-2540-2550. If it fails to break through, it will test2500-2490-2480