Gold Holds Above $1,920 Amid Strong US Economy
Gold held firm above the $1,920 per ounce mark on Friday, but it remained on course to conclude the week with losses, largely attributed to the latest data indicating a robust U.S. economy. This economic strength provides the Federal Reserve with room to maintain a stringent monetary policy stance or potentially increase interest rates.
In the last week of August, new unemployment claims in the United States dropped to their lowest level in over six months. This development came as a surprise, as market expectations had anticipated only a modest increase and contradicted previous data that had hinted at some weakening in the labor market.
GOLD
SELL 1926 - 1928 🔽🔽
🟢TP: 1923
🟢TP: 1920
🔴SL: 1932
In the last week of August, new unemployment claims in the United States dropped to their lowest level in over six months. This development came as a surprise, as market expectations had anticipated only a modest increase and contradicted previous data that had hinted at some weakening in the labor market.
GOLD
SELL 1926 - 1928 🔽🔽 🟢TP: 1923
🟢TP: 1920
🔴SL: 1932
Comment:
continue to increase
