Escalating Middle East tensions and Iran's plan to designate an exclusion zone in the Strait of Hormuz have pushed energy costs higher, reigniting inflation fears. Coupled with a strong August NFP report bolstering Fed tightening bets, spot gold faces sharp downward pressure, repeatedly testing the $4,400 support level.

U.S. August non-farm payrolls surged by 162k, crushing expectations alongside upward revisions to prior months. The unemployment rate held steady at 4.1% with participation rising to 61.6%. The robust jobs rebound boosted September Fed rate hike bets to 62% as focus shifts to upcoming CPI data.

Markets await the U.S. August NFP report as Fed Governor Waller's dovish signals pull September rate hike expectations down to 50%. Spot gold enters a narrow consolidation near $4,470, with 30-minute moving averages entangling and technical indicators turning neutral.

Fed Governor Waller signals a dovish tone, dropping September rate hike odds to 50% and propelling spot gold back above $4,470. Falling Treasury yields and Middle East tensions offer support as markets brace for tonight's critical NFP report.

Trump confirms intense military strikes on Iran. However, a massive miss in ADP payrolls cools September Fed rate hike bets, sparking a massive $100+ V-shaped rally in gold past $4,400. Bullish momentum is strong as the market monitors overbought consolidation.

Spot gold staged a massive $100+ rebound from $4,282 lows after U.S. August ADP private payrolls sharply missed expectations, adding only 38,000 jobs. Falling Treasury yields and a weaker dollar fuel the rally as markets brace for the critical NFP report.