Gold futures is quite sensitive to expectations for US monetary policy. In recent years, macroeconomic reports from the United States were quite optimistic in order to allow the Fed to wait for a rate hike in September. But today’s report on the labor market was somewhat weaker than expected. The economy created just 223,000 new jobs instead of the projected 230 000. Moreover hourly wage was unchanged, which does not wait for the acceleration of inflation on the salary level. And that has provoked doubts about whether the Fed will rush to tightening. Moreover, the closer Sunday, the greater the uncertainty in the market have been scheduled for that day referendum in Greece.
In the area of 11711 marked the resistance level that coincides with the 50-day moving average. A break of this level could trigger increased activity of “bulls” that will support the demand for the yellow metal.