Gold prices edged lower on Thursday ahead of Friday’s U.S. employment report. This came despite a downtick in the greenback following a move higher in
Gold prices edged lower on Thursday ahead of Friday’s U.S. employment report. This came despite a downtick in the greenback following a move higher in U.S. jobless claims. Support on the yellow metal are seen near the September lows a 1,098. Resistance is seen near the 10-day moving average at 1,141. Momentum remains negative with the MACD printing in the red with a downward sloping trajectory.
Initial jobless claims rose 16k to 276k for the week-ended October 31 from 260k.Continuing claims fell to 2,163k from 2,146k for the week-ended October 24. This is near levels last seen in 2006.The four-week average rose to 263k from 260k.
David Becker focuses his attention on various consulting and portfolio management activities at Fortuity LLC, where he currently provides oversight for a multimillion-dollar portfolio consisting of commodities, debt, equities, real estate, and more.
