Stay current from the 5 January Gold Intraday Technical Analysis, as it explains with the aid of a video that the precious metal is trading with Moving Averages as it hit a high over $1,320 before easing back.
5 January, HotForex – Today’s local calendar meanwhile focuses on December inflation numbers out of the Eurozone, which is expected to show a dip in headline rates, largely due to base effects from energy and food prices, but backing the ECB’s cautious approach to the end of QE. Germany has retail sales numbers at the start of the session and the U.K. releases labour cost data. Released overnight the U.K. BRC shop price index dropped -0.6%.
Gold prices edged lower on Friday and eroded part of previous session’s sharp up-move to fresh 3-1/2 month highs. Spot gold retreated below $1320 level, down 0.15% for the day, as attention shifts to the keenly watched US non–farm payrolls data for fresh directional impetus.
5 January Gold Intraday Technical Analysis (+Video)
Trading with Moving Averages – Gold hit a high over $1,320 before easing back since dollar traded mostly firmer during the pre-London session in Asia.
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