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Gold struggling to find support – GOLD Market Outlook – 04/03/2021

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

SquaredFinancial Daily Market Outlook

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SquaredFinancial Review

Thursday, 04 Mar, 2021 / 9:33

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Source : https://www.squaredfinancial.com/learn/daily-market-outlook/gold-struggling-to-find-support-gold-market-outlook-04-03-2021

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