Gold, $35 free fall on Friday!
Gold lose $35 yesterday and broke two support levels. After the strong NFP data, US dollar strengthened all over the market and broke the gold most of all. The free fall started from 1197, broke first support at 1190/95 immediately, and second at 1167/72 after 5 hours, with low of the day at 1163.63. Gold close the week under the support at 1165.20 and made a previous 1167/72 support to resistance level for the next week. It would be interesting to see oppening of the week and how will gold handle that resistance, or the fall will be continued toward the next support level at 1143/48!? We see that the gold bulls yesterday realized that they can’t confront the bears, after wich they retreated to lower levels. As I wrote in my previous gold analysis, yesterday wasn’t day for long at second support!