Saturday, October 3, 2015

Gold rallies to $1,140/oz

FXStreet (Edinburgh) - Prices for the precious metal have been boosted following the poor NFP figures today, testing session highs in the vicinity of $1,140 per troy ounce.

Gold up on USD-selling

Gold prices are rapidly gaining altitude after US Payrolls have disappointed investors, showing the economy added ‘only’ 142K jobs during last month and falling short of expectations at 203K.

The yellow metal has reverted its initial negative tone in the wake of the release, following the increased selling interest around the dollar as well as rising expectations of the Fed delaying its lift-off.

Gold levels to consider

As of writing Gold is up 2.09% at 1,136.90 facing the next hurdle at $1,148.29 (high Sep.28) followed by $1,156.72 (high Sep.24) and then $1,170.05 (high Aug.24). On the other hand, a break below $1,104.49 (low Oct.2) would open the door to $1,102.30 (low Sep.15) and finally $1,098.30 (low Sep.11).
For more information, read our latest forex news.

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