Ichimoku Analysis (Weekly Chart)
Tenken-Sen- $1599
Kijun-Sen- $1596
Gold lost more than $20 despite weak US jobs data. US economy lost nearly 20 .5 million jobs in Apr vs forecast of -22 million and the unemployment rate at 14.7%, the highest level since the 1930s. The Broader U6 unemployment rate surged to record 22.8% from 8.7%.
US Dollar index – weak (positive for Gold)
S&P500-Slightly positive (negative for gold)
US Bond yield- Slightly bullish (negative for gold)
The yellow metal to trade steady as dismal jobs data increases the hope of more stimulus from the US Fed.
On the flip side, the near term significant support is around $1700 and any violation below will drag the gold down till $1688 (trend line support)/$16.
The immediate resistance is around $1723, any indicative break beyond targets $1747. Significant trend continuation can be seen only if it breaks $1747.
It is good to buy on dips around $1707-08 with SL around $1696 for the TP of $1747.


Bitcoin's Tug-of-War: Bulls Eye 80,000 USD Despite Turbulent ETF Outflows
FxWirePro: AUD/USD spikes as Trump announces two-week Iran ceasefire
FxWirePro: EUR/AUD falls below 1.6600 level, plunge to test a key fibo grows
FxWirePro: EUR/ NZD downside pressure builds, key support level in focus
FxWirePro: USD/ZAR continues to recovers , upside pressure builds
Euro Ascendant: EUR/USD Breaks $1.17 as Geopolitical Relief Sparks a Bullish Surge
EUR/JPY Breaks Out: Euro Surges Past 185.00 Resistance Amid Strong Bullish Momentum
FxWirePro: USD/JPY edges up as yen dips after soft household spending data
Ethereum Braces for Volatility: Technicals Turn Bearish as Geopolitical Tensions Loom
FxWirePro: USD/ JPY slips as yen rallies after Mideast ceasefire declaration
FxWirePro: GBP/AUD downtrend extends, eyes 1.8900 evel
FxWirePro: USD/CNY falls to three-year high, scope for further downside
GBPJPY Surges to 211.88: Sterling Bulls Target 215 Amid Broad-Based Buying
FxWirePro: GBP/NZD reverses course, bias back to downside
NZDJPY Bearish Breakdown: Why Selling the Rallies is the Strategic Play
Aussie Bulls Charge: AUD/JPY Rallies as Geopolitical Clouds Part 



