Gold Languishes Below $4,480 Ahead of US Nonfarm Payrolls

Gold (XAU/USD) trades near $4,460 after failing to sustain rebounds above $4,500, as renewed Iran conflict, surging oil prices, and resilient US labor data reinforced a stronger dollar and hawkish Fed bets. The metal broke below its descending channel and 50-period MA on June 3, sliding from late-May highs near $4,595-4,627 triggered by temporary ceasefire hopes. Central bank buying continues to limit deeper losses, but technical momentum has turned decisively bearish with Friday’s NFP now the key catalyst.