Gold price today technical analysis 4-2-2013- The pair of gold / U.S. dollar closed at a price higher than the opening price on Friday, as the U.S. dollar lost some steam after the unemployment figures came worst than expected.
The pair initially traded at height arrived in $ 1681USD/ Ounce after the jobs report. Data released by the Labor Department of the U.S. economy added 175,000 jobs in January, and the unemployment rate climbed to 7.9%. However, prices have fallen up to $ 1662 USD/ Ounce, against the backdrop of a report, “University of Mich. consumer sentiment” and report “from PMI Industry Institute of Supply Management” set a settling prices at $ 1667.72 USD/ Ounce.
Recent figures revealed that consumer sentiment index of the University of Mich. rose to 73.8 from 72.9, and the PMI from the Institute of Supply Management, industry rose to 53.1 from 50.2. Seems to be a slow recovery, in the employment sector reinforced expectations that the Fed will not stop the program of asset purchases in the near future.
Pair of gold / U.S. dollar faces strong resistance in each time getting better towards $ 1685 USD/ Ounce of gold