The gold market found itself to be a little bit interesting during the session as we fell towards the 200-day EMA only to bounce. This is an area that technical traders will be watching, as it is such a big technical indicator.
This is going to be an interesting market to watch during the session as interest rates, of course, are elevated in America, and the jobs number coming out on Friday could have a major part to play as to where we go next. After all, traders will continue to question what the Fed may or may not do, and with that, it will have a major influence on gold. This is probably the whole story at the moment, and traders are trying to get a grip on what happens next through that prism.
