Spot gold has lost 8% since peaking on March 17 and trend suggest rallies should be selling opportunities

Chris Weston

Pepperstone

Spot gold has lost 8% since peaking on March 17 and trend suggest rallies should be selling opportunities. There are technical signs that gold is oversold and buyers seem to be steeping in at the January 26 high of $1279, although the big support kicks in at $1262.70 (the 61.8% retracement of the December to March rally). Today's US ADP private payrolls report could be a catalyst for price if it misses the 195,000 jobs expected to be created.


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Chris Weston
Chris Weston
Head of Research
Pepperstone

Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...

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