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USD strength weighing on the yellow metal – GOLD Market Outlook – 04/02/2021


The yellow metal hit our short support target in yesterday’s session, printing a low at $1815 in early trade today before retracing higher. $1830 remains key resistance level to breach for bullish momentum to pick up. Better than expected ADP employment data along with federal reserve bank of St. Louis President Bullard commenting that stock prices are reflecting optimism about the economic recovery have kept the safe haven under pressure.

Support: 1815 / 1800
Resistance: 1825 / 1830 / 1840

SquaredFinancial Daily Market Outlook


SquaredFinancial Review

Source: https://www.squaredfinancial.com/learn/daily-market-outlook/usd-strength-weighing-on-the-yellow-metal-gold-market-outlook-04-02-2021
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