Gold Steady

Gold attempted to conquer $1,300 but it fell short and is now trading slightly below $1,280. Price is yet to define a clear path as bulls are trying to sustain momentum and go above the psychological level of $1,300 but bears seem determined to pull the yellow metal's price below $1,250.

As it looks, price might test $1,240 starting from Friday's NFP data if it turns out to be favorable for the US dollar. If not, we might see a flight to safety which will bring $1,300 back in the game.

Today no news are expected so a consolidation might be observed until tomorrow when we get heavily volatile with the latest and most important news for the US.

Chart: XAU/USD D1