Friday saw a wild ride in gold as the market initially sold off on a stronger than expected jobs number in the US (stronger jobs meaning less likelihood of economic stimulus), before recovering and rallying back above 1600 with equities and commodities later in the day.
The slew of data at the end of the week and policy decisions by central banks are still being digested by markets, resulting in whipsawing and seemingly random price swings. A clear direction will emerge shortly, unitl then we remain on the sidelines.
Today's video looks at Friday's price action in more detail and our strategy for our next trade.
The slew of data at the end of the week and policy decisions by central banks are still being digested by markets, resulting in whipsawing and seemingly random price swings. A clear direction will emerge shortly, unitl then we remain on the sidelines.
Today's video looks at Friday's price action in more detail and our strategy for our next trade.