Gold has retraced some gains after the latest US jobs data, as market participants adjust their expectations for Fed rate hikes. The softer tone on interest rates supports gold’s appeal as a non-yielding asset, but the metal remains confined within a defined range, awaiting clearer signals. Key focus shifts to the upcoming US CPI report and FOMC minutes, which could steer Fed policy outlook and, in turn, gold’s direction. Technically, gold is testing resistance near a major trendline, with crucial support levels to watch at 4,095 and 4,142. Traders should monitor these levels closely alongside fundamental triggers for directional clues.