Gold Analysis: Consolidates above key Fib level ahead of US data

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 12, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    XAU/USD (gold price in terms of USD) surged to fresh one-year highs at 1263.36, galloping more than $ 60 or almost 5% on Thursday. The bullion rocketed massively as risk-aversion heightened immensely as equities rout extended into the US, with investors running for cover amid a new era of negative interest rates policy. Markets fretted over returns on their investments and sought safety in gold as it will at least provide some capital appreciation. Meanwhile markets paid very little attention

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