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Gold set to endure a volatile week

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 30, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    After surging sharply higher Tuesday on the back of Fed Chair Janet Yellen’s dovish remarks, gold is trading a touch weaker today. Speculators are probably booking profit on their long positions ahead of the release of some key U.S. economic data this week, starting with the ADP non-farm employment report this afternoon. Dovish Fed statements, like those from Janet Yellen, generally underpin the price of gold. As gold is a non-interest-bearing asset, falling interest rates – or expectations

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