The bulls were surprised today. You were not.
Gold falls as traders increase Fed hawkish bets after stellar NFP
Gold fell almost $100 on Friday following surprise surge in US nonfarm payrolls that eased worries of US policymakers and boosted expectations of rate hike on Sep 16 policy meeting.
Gold hit the target of 4450-72 to break above it. As we see from the chart, the market faces support at the 4440-60 zone, and if prices remain above it, the advance movement could sustain towards the second target at 4545-65.
Gold Weekly Forecast: Fed uncertainty caps the upside
XAU/USD outlook: Gold falls almost $100 on upbeat US payrolls data
Gold falls toward its crucial 50-day EMA after stronger-than-anticipated US jobs data sends rates higher. The longer-term outlook remains constructive, but higher rates for longer pose a clear risk.
Gold: Central bank buying underpins prices – ING
Gold pauses after two-day recovery as US NFP looms
Gold Price Forecast: XAU/USD recovery stalls below $4.500 awaiting US Nonfarm Payrolls
Gold – Fading the rally for the better risk to reward profile [Video]