Forex Technical Analysis, Gold Daily Forecast June 3, 2016
Gold markets initially tried to rally during the course of the day on Thursday, but turned back around and form a bit of a shooting star. Ultimately though, I believe that the real support is closer to the $1200 level, and there fore it is not until we break down below there that we feel comfortable selling. If we can break above the $1220 level, we could very well continue to go higher but this will obviously be influenced by how the US dollar reacts to the jobs number today. In other words, expect quite a bit of volatility.
Courtesy : http://www.fxempire.com/technical/technical-analysis-reports/gold-prices-june-3-2016-technical-analysis-341883