Gold declined below $2300 after upbeat US
jobs data. Read Till End
US economy added 272000 jobs in May, above
the forecast of 182000. The unemployment
rate ticked up to 4% from 3.9%. Average wages
rose to 4.1% Yoy vs 3.9% YoY.
US Initial jobless claims - Bearish (positive for
Gold)
US ISM maufacturing PMI- Bearish (positive for
gold)
Markets eye US FOMC monetary policy on
Wednesday for further movement. Any hawkish
rate pause will drag the precious metal further
down.
Technical:
The near-term support is around $2290, The
yellow metal faces minor resistance around
$2320 and a breach above will take it to the
next level of $2330
Signal
Sell $2315-18 with SL around $2330 for TP of
$2252.