Gold Silver Reports (GSR) – Gold Spot prices touched highs near $1,349 an ounce after a report early Wednesday on private-sector employment for May from payroll processor ADP said employers hired 27,000 people in the month — marking the lowest growth since March of 2010.
Comex Gold Spot prices if daily close above $1344 will resistances & Target @ $1362
Comex Gold Spot prices if daily close Below $1344 will Support & Target @ $1307
GOLD IS LOVING THE NEWS FLOW
For gold prices, nothing is more important than the US-China trade war at a rolling boil. And US-Mexico trade war simmering away on the front burner, there is a real, growing threat that the global economy will be impacted in a materially negative way as each day goes by without resolution; these are positive developments for volatility.
Estimates suggest that the aggregate impact of the China tariffs, Mexico tariffs, and auto tariffs will knock more than 1% from GDP from the US, the world’s largest economy.
Spot Gold Full Target Hit $1,342 Level Enjoy – Gold Silver Reports
GOLD PRICES GLITTER FOR NOW
The recent gold price rally is impressive. Gold prices have adhered to a bullish falling wedge-like reaction after breaking out last week, putting them on track for a move back to the yearly high near 1346.61.
Spot gold Target & Resistance @ $1,335 —$1,342, Downside Support Level 1,313
But just because gold prices are glittering for now doesn’t mean that traders shouldn’t be aware of potential risks that may lay around the corner.
