A manageable read for January job creation with smaller than expected tweaks in terms of magnitude to historical data are gradually laying down the foundation of expectations that the Fed will not likely act on rates in Q1. While the nature of jobs being added to the workforce roster is anyone's guess, the improving trend in jobs creation since late summer means the Fed will hold rates for quite sometime to come. In terms of revisions to data, last quarter jobs have been revised higher, so we have a stronger trend at the end of 2024 than previously thought. In short, the jobs data isn't quite supportive of continued Fed easing. 

Gold shines among tradeable futures instruments and despite the large downward bar off the hourly chart in the smaller timeframe. we believe we ride this back up as we did in the premarket today back above 2900. 

Here is the actionable setup:

Buy range: 2876.2~2882.8

Stop: 2866.0

Target: 2923.8

Chart (GCJ25)