Yesterday Gold prices slipped up to 2019.58 after unemployment and PMI data but early in the morning it recover some losses while Gold was headed for some gains this week, they were largely a recovery from steep losses seen in the last two weeks. Concerns over higher-for-longer interest rates continued to limit any major upside in gold prices, as did relative strength in the dollar and Treasury yields.
Spot gold rose 0.1% to $2,025.80 an ounce, while gold futures expiring in April rose 0.2% to $2,035.15 an ounce by 00:15 ET (05:15 GMT). Both instruments were set to add about 0.7% this week after losing as much as 4% in the past two weeks.
CURRENTLY GOLD IS MOVING ON DOWN TREND.
Expecting correction up to 2025.50
Today’s important levels for trading are 2032.65, 2026.12, 2017.47 and 2010.94
Trading idea for today: Sell On Rise
Trade setup:
Pullback Sell around@2025.50 Higher Sell around@ 2030.50
Safe swing sell below 2017.50
Safe swing buy above 2033.50
Important Event : No Data Today
Remark: This market analysis is published to increase your awareness, but not to give instructions to make a trade.