Gold may have found support, at least until monthly U.S. nonfarm payroll numbers on Friday, when traders get clues on the economy’s strength and likelihood of a Federal Reserve rate hike. The 100-day moving average has been a “magnet” for the metal all week with “the street in a holding pattern,” . As gold fights “for its right to party at these levels, its fate and that of the big dollar in the near term will probably be decided by this Friday’s data.”
Source: Bloomberg Pro Terminal
Trader Bozhidar Arabadzhiev
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