Gold ranged above $1,200/ounce before U.S. Jobless Data came out. The number of people applying for benefits was lower than expected and pushed the price down. The price also reacted to U.S. Factory Orders data which showed that factory orders rose by 0.2% instead of declining by the expected 0.4%.
Today, the price will be affected by the U.S. Non-farm payrolls data which will come out at 12.30PM (GMT). Right now the price is declining which suggests that the market has priced in positive data. The movement is sideways. Support is found at 1,178 and resistance at 1,210.0.
April 3, 2015 – Commodities News
Gold
Gold ranged above $1,200/ounce before U.S. Jobless Data came out. The number of people applying for benefits was lower than expected and pushed the price down. The price also reacted to U.S. Factory Orders data which showed that factory orders rose by 0.2% instead of declining by the expected 0.4%.
Today, the price will be affected by the U.S. Non-farm payrolls data which will come out at 12.30PM (GMT). Right now the price is declining which suggests that the market has priced in positive data. The movement is sideways. Support is found at 1,178 and resistance at 1,210.0.
Related Posts: