8 Nov 2013
Gold breaking…badly and slowly?
FXstreet.com (Chicago) – Gold continues losing value after the highly volatile Thursday on market reactions to the release of US data. Market participants seem numb to the futures metal that retraces minimally with hourly charts displaying corrective action ahead of NFP data in the US.
At 1.9%, GDP price index data beat expected 1.4% while the annualized GDP results were 2.8% vs. expected 2.0% and prior 2.5%. With job market results still disappointing, the outlook of the economy remains under reserved diagnosis at least until next year.
Gold prints lows at $1,305.70 and highs at $1,309.40 and is offered at $1,306.30.
At 1.9%, GDP price index data beat expected 1.4% while the annualized GDP results were 2.8% vs. expected 2.0% and prior 2.5%. With job market results still disappointing, the outlook of the economy remains under reserved diagnosis at least until next year.
Gold prints lows at $1,305.70 and highs at $1,309.40 and is offered at $1,306.30.