XAUUSD – today’s gold price

XAUUSD, H4

Yesterday (June 2) the gold price fluctuated during the US economic data announcement. The non-farm payroll employment in the United States came out better than expected at 4,800K from the forecast of 3,000K, as well as the unemployment rate which came in at 11.1% from the forecast number 12.3%. However, the number of unemployed was higher than predicted and the hourly income came out lower than expected. Overall, the economic numbers still confirm that the economic recovery continues. The stock market has rebounded strongly this week and the 10-year US Treasury yield had its best week in four, closing at 0.669.

Although the overall economic recovery may have reduced the safe haven demand for Gold however, the background remains one of a risk of the coronavirus outbreak extending, and supportive of Gold prices.

For today, H1 sees the price rising to the high zone of last week around 1779 before narrowing down to swing narrowly above the EMA 50 line, which, if broken down, will find the next support at 1759, in line with MACD. That would move the signal line down, however, if the price rises, there will be the first resistance at the previous high of 1779 and the next resistance at this week’s high at 1789.

Click for economic calendar   or  free online seminar. 

Chayut Vachirathanakit
Market Analyst – HF Educational Office – Thailand

Warning:  This article is for general marketing communication purposes only. Not research for investment And no part of this article contains investment advice or is considered to be investment advice Or persuade you to buy or sell financial products All of this information is collected from credible sources. And every information contains past work that cannot be guaranteed Or able to measure future performance Users should understand that investing in Leveraged products is characterized by high risk levels. The user must bear the risk solely. We are not responsible for any investment damage. Arising from the use of this information This information may not be reproduced or distributed without written permission.

Leave a Reply