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Gold demand might pick up ahead of US NFP data – GOLD Market Outlook – 05/06/2020


Gold ended yesterday’s session higher after Jobless Claims data came in slightly worse than expected and the European Central Bank scaled up it’s bond buying program. Today, investors look ahead to today’s Non-Farm Payrolls and Unemployment Rate to better gauge the effects of the Coronavirus on the U.S economy. Prints above our short term uptrend will favor further upside with 1717.50 coinciding the 200-period SMA, and 1730 as the closest resistance targets.

Support: 1708.5/ 1700
Resistance: 1717.5 / 1730

SquaredFinancial Daily Market Outlook


SquaredFinancial Review

Source: https://www.squaredfinancial.com/learn/daily-market-outlook/gold-demand-might-pick-up-ahead-of-us-nfp-data-gold-market-outlook-05-06-2020
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