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Gold Analysis: XAU/USD sees technical selling as 200-DMA tested, US jobs eyed

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 2, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    XAU/USD (gold price in terms of USD) rose to the highest levels since Nov 3 in the last US session at 1129.76, just a whisker short of $ 1130 mark and almost near the 200-DMA at 1130.21 levels. The yellow metal rose $ 14 intraday after the release of weaker global manufacturing surveys across the globe, particularly China, reinforced global growth concerns and hence, boosted the demand for the safe-haven gold. Moreover, the gold continued to benefit from the negative interest rate environment

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