After breaking the psychological barrier and long time resistance $1300 by previous week, this week same resistance somehow turned into support. This week XAU traded above $1300, mostly bullish except Friday after USD get some relief and profit booking activity, finally closed at $1317.27. The price movement touched $1326, got some pullback only, unlike when GOLD touched this level last year, hit by a mass selling frenzy. But some traders profit booking urge is quite understandable.
After Friday's better than expected Non-Farm Payroll strengthening the greenback, slight reversal in precious yellow metal price, that too only 0.3 percent.
In overall it a fine weak for XAUUSD
Open (on Monday, 28 Jan 2019) 1303.00
High (on Thursday, 31 Jan 2019) 1326.30
Low (on Monday, 28 Jan 2019) 1297.85
Close (on Friday, 1 Feb 2019) 1317.27
After Friday's better than expected Non-Farm Payroll strengthening the greenback, slight reversal in precious yellow metal price, that too only 0.3 percent.
In overall it a fine weak for XAUUSD
Open (on Monday, 28 Jan 2019) 1303.00
High (on Thursday, 31 Jan 2019) 1326.30
Low (on Monday, 28 Jan 2019) 1297.85
Close (on Friday, 1 Feb 2019) 1317.27
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| XAUUSD Hourly Chart |
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