TradeVinder

XAU/USD, has been pressured at the start of the week

XAU/USD, has been pressured at the start of the week

XAU/USD Price Forecast

XAUUSD ( GOLD ) is showing weakness in the chart taking support of its upwards slopping trend line. Gold price has dropped below $1,920. If it manages to sustain below it crucial level of $1910. Then more down side correction might be seen so next level of would be $1900/$1890/$1980. While mixed sentiment prevails surrounding the Ukraine crisis vs expectations of rapid-fire from the Federal reserve following last week’s Nonfarm Payrolls outcome. Non-farm payrolls increased 431k in March. following a strong upward revision to the February data to 750k. The Unemployment Rate also fell slightly to 3.6% while the average hourly earnings increased 0.4% MoM to bring annual growth to 5.6%. The data was a mixed bag, with hourly earnings for February revised back to 0.1%, On up wards side it is taking resistance of 1930 and $1950.