fed official last week said
they believed the current weakness in the US economy was temporary and noted that consumer confidence was improving . that convinced the market that a rate hike ,while unlokely at the next meeting in june ,is not far off. the afternoon fixing on friday in london was 1175$ compared with 1184$ a week earlier .
gold has been moving sideways in a wide range between 117$and $ per once and is expected to continue doing so this week. investors might consider buying when the price is near or lower than the support at 113$. selling to take profit in the event of a technical rebound would also be advisable,US jobless claims and non-farm payroll data could influence the market direction this week . the support s this week are at 11$ and resistance levels at at 22$