The generally softer-than-expected U.S. labour market and ISM services survey data allows gold to break above $2,360/oz, adding over $30/oz as the USD softens and Tsys rally.

  • Our technical analyst notes that spot continues to trade in consolidation mode.
  • Initial firm resistance is located at the Jun 7 high ($2,387.8/oz)

GOLD: Rallying Following Soft U.S. Data, Technical Consolidation Theme Intact

Last updated at:Jul-03 14:25By: Anthony Barton

The generally softer-than-expected U.S. labour market and ISM services survey data allows gold to break above $2,360/oz, adding over $30/oz as the USD softens and Tsys rally.

  • Our technical analyst notes that spot continues to trade in consolidation mode.
  • Initial firm resistance is located at the Jun 7 high ($2,387.8/oz)