Decision time for gold

30 thg 8, 2017

1295 level is critical. What we saw earlier this week is either a firm break-out to initiate a rally or a false break-out. Recently dollar weakness has been the driving factor on the trend of gold, so will continue to be in the coming weeks. No doubt today's US data has to be regarded as really firm data, NFP to follow. In case we see also a strong NFP data on Friday, pricing below 1295 would be no surprise. Gold is about to make a decision.