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Gold erases overnight gains as stocks stabilise, NFP eyed

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Gold rallied to a fresh nine-week high of $1112 in overnight trading before dropping by a good $15 to trade back below $1100 at the time of this writing. The People’s Bank of China fixed the USD/CNY lower a day after the Chinese authorities decided to abort the circuit breaker after it was triggered twice this week following the big drops in Chinese stocks. This, as well as short-covering ahead of today’s US jobs report and the weekend helped to stabilise the stock markets which have had their

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