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Gold Analysis: Upside potential intact, $ 1175-1180 eyed

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    XAU/USD (gold price in terms of USD) printed fresh four-month highs last Friday at $ 1174.54 and booked third weekly gain in a row. Gold prices dipped sharply to 1144.90 lows after the US labour markets report came in well above expectations. Although the headlines figures missed estimates and dropped 151k in Jan, the US jobless rate fell to 4.9% in January, marking the lowest level since February 2008. While the average hourly earnings rose 0.5% in January, notably steeper than the 0.3%

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