Gold’s bullish trend is showing some weakness after the price was unable to hold the key level of $1,400, while the greenback is continuing its recovery. It appears clear that investors are now cautious about the next Fed decisions, after the NFP report last week certified a US job market still solid.
From a technical point of view, after five days in a row of decline, gold is now approaching the support level of $1,380, which was able to support prices last week. A rebound on these levels would be crucial for confirming the current positive mode of bullion.
