<\/figure>\n\n\n\nAccording to the latest technical analysis, if daily closes hold above $4,720, the next bullish wave could trigger rapidly. The first objective is set at $4,800, <\/strong>with a primary target of $4,850<\/strong>, corresponding to a key Fibonacci level. Does this bounce indicate that the gold bull run is not over and show that the appetite for safe haven assets is still very much present? <\/p>\n\n\n\nThe Fibonacci<\/strong> levels point to a potential 618 target around $5,600 <\/strong>in the coming months. Before reaching that point, the two major resistances are located at $4,800 and $5,300. <\/strong>These represent the two biggest short and medium term hurdles for gold.<\/p>\n\n\n\n <\/figure>\n\n\n\nOn the leverage side, the liquidation heatmap on Hyperliquid shows clusters of longs at $4,400.<\/strong> However, shorts are starting to accumulate with major targets between $4,800 and $4,900. <\/strong>Between the current price and $4,400,<\/strong> there are far fewer longs.<\/p>\n\n\n\nThe NFP Report: The Catalyst That Will Trigger Explosive Volatility?<\/strong><\/h2>\n\n\n\nWhile the technical analysis is decidedly bullish<\/strong>, traders are keeping a close eye on the economic calendar. The imminent release of the US Non Farm Payrolls (NFP) employment report this Friday is the next major catalyst. Unexpected data could trigger massive volatility on XAU\/USD, as well as across the crypto market.<\/p>\n\n\n\nHistorically, weakness in the US job market drives investors toward gold and Bitcoin, as they anticipate rate cuts from the Federal Reserve. However, since Bitcoin has been closely tracking the SP500, BTC is often sidelined in favor of metals in this type of environment. <\/p>\n\n\n\n
If this scenario plays out once again, the current rally<\/strong> could accelerate, propelling the price of gold toward the psychological threshold of $5,300.<\/strong><\/p>\n\n\n\nGold at $5,000: Is It the Right Time to Position Yourself?<\/strong><\/h2>\n\n\n\nWith a four hour chart validating bullish targets and an RSI that still has room to grow before hitting overbought territory, the momentum of gold seems unstoppable. The recent retracement<\/strong> to $4,692 is seen merely as simple profit taking ahead of the NFP shock, invalidating any bearish<\/strong> scenario for the time being.<\/p>\n\n\n\n\n