David Becker
Add to Bookmarks

Gold prices continued to rally on Tuesday as the dollar declined and yields moved higher. This move came as the number of jobs opened in the U.S. climbed to the highest level on record. Help wanted rose by 597,000, or 8%, to 8.12 million, in March while hiring rose just 215,000, or 3.7%, to just over 6 million.

Trade gold with FXTM

Know where Gold is headed? Take advantage now with 

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Regulated By:CySEC, FCA, FSC

Foundation Year:2011

Headquarters:30 Churchill Place, London, E14 5EU, UK

Min Deposit:$10

Visit Broker

82% of retail CFD accounts lose money

Technical analysis

Gold prices moved higher on Monday, continuing to break out above trend line resistance. Support is now seen near former resistance, a downward sloping trend line near 1,799. Target resistance is seen near the Fibonacci retracement level of 50.0%, which is seen near 1,876. Additional support is seen near the 10-day moving average at 1,800 and then the 50-day moving average at 1,746. The 10-day moving average has crossed above the 50-day moving average, meaning that a short-term uptrend is now in place. Short-term momentum has turned negative as the fast stochastic generated a crossover sell signal. Medium-term momentum has turned positive as the MACD (moving average convergence divergence) index generated a crossover buy signal. This occurs when the MACD line (the 12-day moving average minus the 26-day moving average) crosses above the MACD signal line (the 9-day moving average of the MACD line).


JOLTS Hits Record Highs

Job openings popped to a record high in March. Help wanted rose by 597,000, or 8%, to 8.12 million, in March while hiring rose just 215,000, or 3.7%, to just over 6 million. Total separations declined, falling by 107,000 to 5.32 million. The total number of employment opportunities set a new standard for the Job Openings and Labor Turnover Survey. For March, opportunities expanded sharply in government jobs, with openings jumping to 833,000, a 26.6% increase from February. Retail also saw a sizeable gain while education and health services saw a decline. Quits, or voluntary exits from jobs, were little changed at 2.4%.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker