Com­mod­ity spotlight – Gold

Financial Mirror (Cyprus) - - WORLD -

Gold was al­most di­rec­tion­less on Fri­day morn­ing as in­vestors re­mained cau­tious ahead of the highly an­tic­i­pated U.S. jobs re­port.

Al­though the yel­low me­tal ini­tially re­ceived a boost mid-week from un­cer­tainty sur­round­ing Italy’s bud­get, these gains could be eas­ily be erased by a solid U.S. jobs re­port. With Gold’s for­tune tied to the Dol­lar’s per­for­mance, this could be an­other rough and rocky trad­ing quar­ter for the pre­cious me­tal. Tak­ing a look at the tech­ni­cal per­spec­tive, prices are likely to trade within a mod­est range un­til the NFP fig­ures are re­leased this af­ter­noon. A solid break be­low the $1,190 sup­port level could in­spire a move to­wards $1,181 and $1,173, re­spec­tively.

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