Yesterday, Gold decreased back to its support level at $1,255/ounce. The price then bounced off this level due to increasing speculation that the U.S. Non-farm Payrolls data will be disappointing. The data will be released at 1.30PM (GMT). If payrolls are above 200K it will be the 5th time in a row. However, any figure below that could pull the price of safe-haven assets up.
The movement is sideways. Support is found at 1,255 and resistance at 1,284.
February 6, 2015 – Commodities News
Gold
Yesterday, Gold decreased back to its support level at $1,255/ounce. The price then bounced off this level due to increasing speculation that the U.S. Non-farm Payrolls data will be disappointing. The data will be released at 1.30PM (GMT). If payrolls are above 200K it will be the 5th time in a row. However, any figure below that could pull the price of safe-haven assets up.
The movement is sideways. Support is found at 1,255 and resistance at 1,284.
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