Gold under pressure on Tuesday after the dollar index rose
2018-07-10 11:37 am | Resource: NEWS | No Views : 123
Gold was under pressure on Tuesday, after the dollar index rose from its lowest level in a month as part of a correction on US economic data today.
The dollar index rose 0.28 percent on Tuesday, reversing its losses in five sessions in a row to 94.30, its highest level in a week.
Markets are looking for job opportunities and May job turnovers, which could rise to 6.88 million from 6.70 million in April.
Last week, US data on monthly jobs, which rose in the US more than expected in June, were released, according to a report released by the Labor Department on Friday.
Non-farm jobs jumped 213,000 jobs in June after rising 244,000 jobs in May, the report said
Gold prices fell 0.48% to $ 1253, after hitting a high of $ 1260 and a low of $ 1252 compared to opening at $ 1285.
Looking at silver, it lost 0.74% to $ 16.00, after reaching a high of $ 16.19 and a low of $ 16.00.
Time frame Used - four hours Oil is moving in a bearish direction in the near term The bears managed to press the oil to drop below level of 70.49 Forming a positive candlestick pattern In view of the technical indicators Both the RSI and the Stochastic are indicating signs of recovery Accordingly, we expect that the oil will break above the 72.21 level to test levels of 72.73…
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