RLinda ! GOLD-> Will a pullback from support follow

10 Okt 2022

Gold prices continue to decline in trading on Monday after the publication of Friday's data, which indicated a decline in unemployment in the United States in September, which may become another argument in favor of the Fed's continued rate hike

Data from the Labor Department showed that the number of jobs in the United States economy increased by 263,000 in September, the slowest pace since April 2021.

Meanwhile, unemployment fell to 3.5% last month from 3.7% in August, which came as a surprise to analysts who had not anticipated a change in the figure.

On the chart we see the price falling to the relatively strong support level of 1679.8, I think that after the local distributive movement we might see a pullback from the level to the resistance in the 1700 area

Regards R. Linda!