GrowthAces
Long

Gold Eases On Dollar Recovery, But We Stay Long

FX:XAUUSD   Gold Spot / U.S. Dollar
Gold             eased from three-week highs today as a recovery in the USD prompted some buyers to cash in gains after the previous day's sharp rally, though the outlook for Fed interest rates offered support.
• The metal surged 1.5% on Wednesday after below-consensus US payrolls data and dovish comments from Janet Yellen dampened expectations of an imminent rate hike.
Gold             is highly sensitive to rising interest rates, which lift the opportunity cost of holding non-yielding bullion while boosting the dollar, in which it is priced.
• Investors have almost priced out the chance of a rate increase at the Fed Reserve's June 14-15 policy review and reduced the likelihood of a July increase to about 26%
• We stay XAUUSD             long for 1280.00

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Nice, I would stay long too :)
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