ANALYSIS
NQ100 Finds Support from PPIApr 14
Demand for Ounce Gold Keeps Alive with Political Tensions
With the US non-farm payroll data rising well above market expectations, forecasts that the Fed will continue its aggressive tightening have strengthened the dollar and weighed on an ounce of gold. However, the persistence of Taiwan tension on the US-China line continues to keep the demand for ounce gold alive. The Chinese army announced that it has started a new exercise near Taiwan. Under this outlook, the yellow metal, which maintains the recovery movement in the ascending channel on the first trading day of the week, can progress to the psychological 1800 resistance if the 1786 level can be surpassed with permanent closes. In the downside movements that may be experienced, 1765 and then 1750 support will be followed.
