DailyFX - Forex Market News: FOREX: Gold Eyes Key Support Ahead of US NFPs- $1693 Remains Critical

DailyFX - Forex Market News Forex Market News

FOREX: Gold Eyes Key Support Ahead of US NFPs- $1693 Remains Critical Oct 27th 2012, 04:04 Gold prices continued to ease this week with the precious metal off by 0.60% to trade at $1711 at the close of trade in New York on Friday. The decline marks the third consecutive week of losses for bullion which encountered support at $1700 as positive US data continues to weigh on prospects for further Fed easing. Gold now looks poised for a test of critical support at $1693 with a break below this level risking substantial losses for the yellow metal.

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