Gold Price Outlook: Rising US Dollar Sinks XAU/USD, Will Losses Extend?

GoldBEARISHData provided by IG

CHANGE IN LONGS SHORTS OI
DAILY 1% -4% 0%
WEEKLY 9% -10% 5%

All eyes at the end of the week turn to the US non-farm payrolls report. Data out of the world’s largest economy continues to outperform economists’ expectations, but this has been by a narrowing margin since the middle of July. Markets are forward looking, persistent threat over the timeliness of a fiscal package could cast a shadow of doubt over swift economic recovery expectations, undermining another solid NFP report.

GOLD FUNDAMENTAL DRIVERS – DAILY CHART

Gold chart forecast

Gold Chart Created in TradingView

1 2
View single page >> |

Disclosure: See the full disclosure for DailyFX here.

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.