Gold trades higher on weak US Jobs data,good to buy at dips

FX:XAUUSD   Gold Spot / U.S. Dollar
222 0 6
Major resistance - $1243

Gold             hits two- week high on Friday on account of weaker than expected US Non-farm payroll data.

Bullion jumped 2.8% on Friday, its highest percentage gain since Feb 11.

U.S economy has added only 38k jobs in the month of May, lowest number since 5-1/2 years.

Technically gold             has broken major resistance $1243 and jumped till $1248 at the time of writing .It is currently trading around $1242.

Gold             is slightly bullish but market awaits Fed Chairman Jannet Yellen speech today for further direction.

Short term trend is bullish as long as support $1225 holds.

On the higher side any break above $121 will take the bullion till $1264/$1270.

Gold             minor support is around $1235 and any break below targets $1228/$1225.

Overall bullish invalidation only below $1200.

It is good to buy at dips around $1235 with SL around $1225 for the TP of $1264
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out