Gold prices traded in range as the dollar eased on weak U.S. economic data. The US dollar declined as recent strong economic data eased concerns about the global economy, prompting investors to reduce safe-haven positions in the greenback.
Analysis
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The US dollar remained firm last week. The strongest of the majors was the Norwegian krone, and it rose less than 0.2% against the greenback. The volatility is continuing to compress.
Commodities Weekly Technical Research Report 08 — 12 April 2019
Commodities Weekly Research Report
Gold Prices had Earlier Breached its 100-Day Moving Average
Gold Silver Reports (GSR) – Gold prices slipped today, but was trading above the 10-week low touched in the previous session, as the dollar rose against the yen on signs of progress in the US-China trade dispute and strong US economic data. Investors are now awaiting the US jobs numbers for more signals on the strength of the economy.