Gold received a boost after a weaker-than-expected US jobs report hit the Greenback. The yellow metal had retreated from $1540 on Tuesday toward $1529 an ounce on Wednesday as easing worries about the Greek debt crisis curbed demand for safe-haven assets, although it managed to bounce after the report.
At time of writing, the yellow metal is trading near $1536, still below its 4-week high struck yesterday at $1540/oz.
According to Anton Kolganov, analyst at ForexMillion, "A downtrend will start as soon as the pair drops below support level 1526, which will be followed by moving down to support level 1517 and then 1508". He sees resistance levels at $1538 and $1544.
Silver on the other hand, is edging lower, currently struggling around $38.00 an ounce, 1.2% below its opening price.
