The gold price opens the European session at $4,294.36, clawing back a few dollars from the overnight low but still deep in the red after last week’s 12% collapse. That rout was triggered by Friday’s scorching U.S. nonfarm payrolls report, which amplified hawkish Federal Reserve repricing and sent Treasury yields to multi-year highs. Now, as London desks flicker to life, the opening-hour momentum is testing the $4,300 support like a blade against a whetstone. This session will reveal whether buyers can reclaim territory or whether the bear trend is ready to carve another leg lower.