Nov 04, 2022
VOT Research Desk
The price of gold fluctuates about $1648 after a measure of employment in the US revealed that the economy added more jobs than anticipated, according to a report from the US Department of Labor, while the US Dollar fell.
US Treasury yields increased, while Gold continued to hold onto its gains. At the time of writing, XAUUSD is experiencing a tumultuous session and trading between $1640 and $1660.
According to the chart, the XAUUSD price dropped to $1641.16, just shy of the 200-EMA, before rebounding and rising toward the mid $1650s as the US Dollar weakened.
It broke both the 50-EMA and the 20-EMA along the way, hitting $1649.88 and $1651.82, respectively.
Although XAUUSD lacks the strength to retest the weekly high of, it still has the potential to increase its gains.
|
Daily SMA20 |
1652.7 |
|
Daily SMA50 |
1676.27 |
|
Daily SMA100 |
1722.03 |
|
Daily SMA200 |
1806 |
