GOLD Reacts To US Data

The price for gold jumped on Friday due to the publication of the US employment data. The metal reached above the 50, 100 and 200-hour simple moving averages near 1,780.00. Since then, the bullion has been fluctuating between the support of the moving averages and the resistance of the 1,790.00 level.

A move below the simple moving averages might reach for the support of the Friday low level at 1,770.45. Below the low level, the December low at 1,762.20 could stop a decline.

However, a surge of the price would need to pass the 1,790.00 level, before reaching the 1,800.00 mark.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Group
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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