Meanwhile, investors would focus on the U.S. non-farm payrolls for October due later today, with a growth of 593,000 and unemployment down to 7.6% expected.
From a technical point of view, spot gold's upside momentum remains strong as shown on the 1-hour chart. It has surpassed a bearish trend line drawn from August and the 38.2% Fibonacci retracement resistance of the decline started from August's high. The level at $1,917 may be considered as the nearest intraday support, while the 1st and 2nd resistance are expected to be located at $1,961 and $1,973 respectively.
Source: GAIN Capital, TradingView