gold price technical forecast
Today we have non-farm payrolls today, and U.S. market will close on 3 July.
We also can see that for now that Greece don’t seem to be impacting on gold.
From the side of the private investor we see that apx 80% are holding long position on gold, Investors have been adding to holdings as Greece’s debt crisis boosted demand for haven assets. Gold in global ETPs rose 6.3 metric tons last week, the most since February. The assets were at 1,592.2 tons as of Tuesday
Stronger U.S. dollar will probably lead to more long-liquidations in the gold market in the near-term.
Technical: see the triangle that appear- Break down The support at 1162 will open the door for 1145-7 till the 1142.87 March low.
if price recover off 1162 and break up again 1189 area it is possible that we will see a retest 1224-1231 area.
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This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice
