Gold - Long trade open

Last Friday, the United States' Bureau of Labor Statistics reported that Non-Farm Payrolls for the month of November fell by more than 533K, the most in 34 years. The Labor Department also said the unemployment rate rose to 6.7 percent, the highest level since 1993.

Fundamental of US is weak, creating weak sentiment for the US Dollar. Hence I believe US Dollar should depreciate over the next few days, thereby pushing gold price higher.


Open Long: 100 Spot Gold @ 770.25
Stop level: 739
Target level: 799.50



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