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Gold Analysis: XAU/USD looks to retest 200-DMA at $ 1130, US data eyed

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    After having peaked above 1128 last Wednesday, XAU/USD (gold in terms of USD) consolidated the upside for the rest of the week, posting 5% monthly gain. The prices settled the week on a firmer note at 1118.61, quickly recovering almost $ 10 intraday. The yellow metal swung back higher on Friday after the US Q4 GDP report disappointed markets and weighed negatively on the Fed’s outlook on the interest rates for this year. The US economic growth slowed sharply in Q4 2015, expanding at 0.7% y/y.

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