4 Apr 2014
Gold takes off to the moon
FXStreet (Guatemala) - Gold has taken off post the US labour market details that came out this afternoon in the form of Nonfarm Payrolls.
Gold rallied from $1,290.00 and is approaching on last weeks highs, scaling back all of the built up losses over the course of the week and end of last month. The dollar is mixed across the board, with knee jerk reactions and some stability forming some time after the event.
This might be a major 'sell the rumour buy the fact' scenario, or perhaps investors are just not that convinced without data that is proving outstanding until the Fed is able to really be sure that they are on track for needing to manage an economy that is set to grow, requiring a tightening shift in monetary policy.
The yellow mental is testing the 1,300.00 mark out and shows little signs of giving in at this stage having scored an impressive high through $1,302 so far.
Gold rallied from $1,290.00 and is approaching on last weeks highs, scaling back all of the built up losses over the course of the week and end of last month. The dollar is mixed across the board, with knee jerk reactions and some stability forming some time after the event.
This might be a major 'sell the rumour buy the fact' scenario, or perhaps investors are just not that convinced without data that is proving outstanding until the Fed is able to really be sure that they are on track for needing to manage an economy that is set to grow, requiring a tightening shift in monetary policy.
The yellow mental is testing the 1,300.00 mark out and shows little signs of giving in at this stage having scored an impressive high through $1,302 so far.