Gold surges as a slowdown in the US job market weighs on the US dollar.
A bullish candle above the first resistance on the daily chart (1775) has forced the bears to cover their positions, exacerbating the momentum in the process. Now that the selling pressure is out of the way, the bulls may consolidate their gains and build strength for a reversal.
The psychological level of 1800 would be the next target. However, an overbought RSI has caused a temporary pullback towards the demand area between 1740 and 1755.
