Weekly Support & Resistance for GOLD
Resistance: 30760-31200
Pivot: 29900
Support: 29500-29300
GOLD traded
higher due to weak dollar and also buying from SPDR GOLD fund. Technically for
next week if gold traded above 30100 can rise to 30500-30700.while if trades
below 29800 can fall to 29500-29300. An upbeat employment report would help
support the case for the Federal Reserve to steadily tighten monetary policy
this year, while a disappointing outcome will push back expectations for higher
interest rates. Which result some softness in precious metal.
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