Gold Maintains $1800
Gold on a low volume of trade last week it went as high as $1830 levels and settled the year at $1828. There are series of data and FOMC Meeting Minutes which could be the key driver of Gold prices this week. As the trading resumed partially yester-day, Gold saw a drop in price back to $1800 levels, currently trading at $1805 , gold is closely watching the U.S Dollar index price action.
Technically, Intraday chart formation indicates a bearish reversal where follow through close on daily chart will confirm the reversal. Gold currently trading at $1805, it could target $1783 and $1773 based on yesterdays close . Near by resistance is at $1813 followed by $1835 as its major resistance.
Data and Events for U.S this week
- ISM Manufacturing PMI on Jan 4th
- ADP Non Farm Employment Change On Jan 5th
- FOMC Meeting Minutes on Jan 5th
- Non Farm Employment Change on Jan7th
- Unemployment Rate
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