Weaker than expected ADP employment change had little effect on gold yesterday as a 2-basis point rise in treasury yields dragged the yellow metal around $20 lower to near nine-month lows. All eyes on Fed Powell’s speech today along with Initial Jobless Claims data, as a weaker print could dent market optimism, spurring demand on the safe haven with $1730 as the closest resistance target.
Support: 1710 / 1700
Resistance: 1718/ 1730 / 1740
