Gold is consolidating from 1869 to 1883-1885 because the US Dollar Index has not broken the 104 level yet. The US Dollar is consolidating from 103.00 to 104.00 while gold is choppy from 1869-1871 to 1883-1885.
On Feb 8 2023, Mr. Williams is saying that strong job report is supporting the Fed to do more with interest rate, this is a confirmation to Mr. Powell hawkish rate comment.
Gold is ignoring the hawkish rate hike comments of the Fed. it has dropped to test the 1769-1871 several times but it has not close below this zone yet.
Gold (XAUUSD) waiting for US Job report at 13:30 GMT on Feb 9 2023 to break the range 1871 -1883. A good job report will support the down trend continuation.
A bad job report will support the Dollar index to drop to test 102.00 and gold will go up to test the 1900-1910 zone.
Today Feb 9 2023, gold traders should monitor US Dollar Index to trade the choppy range 1869-1871 to 1883-1885.