Seems like there is bit of consolidation though there seems to be a bullish candle trying to break towards the area of resistance. As the fundamental analysis suggests, gold seems to be under a lot of pressure and it seems to be evident in this chart. I don't expect the trend to change anytime soon especially in light of the US employment report that showed favorable numbers in job hires in the restaurant, office and retail sectors - the US dollar would provide even more pressure.
Commentaire:
Despite now that the dollar is going down at the time of this note, I expect that it may come out of this low due to the US employment report.