Gold Higher

Gold is trading higher today after a disappointing US report on Friday. Jobs created came out negative 33K and this sent the US dollar sharply lower. Gold as a safe haven enjoyed a move to the upside initially with some $15.

Currently, Gold is trading at $1,288, marking a $28 move since its bottom at $1,260. If the trend catches on, more Gold bugs will get on thus pushing the price to first target at $1,315. Second major bull target is seen at $1,335 and major bull target is seen at the latest high at $1,360.

If $1,360 is taken out, then we might conclude that the bearish short-term trend is over and the new upward trend has initiated.

Silver is also posting gains as the metal is now trading at $17.09, up from a low of $16.35.

Chart: XAU/USD H4