(Adds second chart)

• Gold is maintaining a firm tone, a sign that bearish risks are easing

• Price action reflects this, with only a fleeting break below support at $3944 (prior YTD low) last week

• Friday's hot US payrolls report also had a limited impact on gold

• Last week's high at $4146 is the immediate topside objective

• A clean break through $4146 can open the door for a move towards $4400

• Support comes in at $4030 (US payrolls spike low), then $3950-70
Gold performance


Gold chart 10 min

Justin McQueen is a Reuters market analyst. (The views expressed are his own) ((Email: ))