Gold reaches all-time high ahead of US non-farm payroll. Poor job figures will boost the yellow metal's price. The ECB held interest rates constant and hinted at a possible rate decrease in June due to lower inflation.
The CME Fed watch tool now predicts a 95% chance of no rate cuts in March, down from 96% the previous week.
Technical:
The near-term support is at $2160, with a break below targets of $2120/$2100. The yellow metal has modest resistance at $2165, but a break above will take it to the next level around $2180/$2200.
Signal
Buy $2160 with a stop loss of about $2120 and a target price of $2200.
Sell $2200 with SL at $2220 for a target price of $2150.