Gold / XAUUSD Analysis 6 October
5 October, Gold opened at $1726, made high at $1727, low at $1700 and closed at $1716. Gold closed $10 less than 4 October closing.
Today, Gold opened at $1716.8, made low at $1715.96, high at $1724.12 and is currently trading at $1723. Today trend is slightly positive. Support is at 1700 and Resistance is at $1735.
At Pakistan time, 5:30 PM USA Unemployment claims will be released. Previous claims were 193000 and market is expecting 205000. If figure is less than 193000 this would be good for dollar and bad for gold, hence price of gold can drop towards its support. If figure is more than 193000 or exceeds market expectation of 205,000. This will be bad for US$ and good for Gold, hence gold price can move towards $1735 resistance or break it.
5 October, Gold opened at $1726, made high at $1727, low at $1700 and closed at $1716. Gold closed $10 less than 4 October closing.
Today, Gold opened at $1716.8, made low at $1715.96, high at $1724.12 and is currently trading at $1723. Today trend is slightly positive. Support is at 1700 and Resistance is at $1735.
At Pakistan time, 5:30 PM USA Unemployment claims will be released. Previous claims were 193000 and market is expecting 205000. If figure is less than 193000 this would be good for dollar and bad for gold, hence price of gold can drop towards its support. If figure is more than 193000 or exceeds market expectation of 205,000. This will be bad for US$ and good for Gold, hence gold price can move towards $1735 resistance or break it.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.