Gold price analysis: XAU/USD extends post-NFP drop, trades near $1460/oz

Gold is down sharply this Friday as the US added more jobs than anticipated in November.
Support is seen in the 1455/50 price zone.

Flavio Tosti Independent Analyst

Gold daily chart

Gold is having a sharp intraday move down below the 50 and 100-day simple moving averages (SMAs) as the Nonfarm Payrolls (NFP) came in much better than anticipated with 266k vs. 180k expected.

Gold four-hour chart

The bears have taken control with the metal trading below its main SMAs. As the market is declining, the sellers will try to extend the current move down towards the 1455/50 zone on the way down. Resistance is seen at the 1465 and 1472 price levels.

Additional key levels

XAU/USD

Overview
Today last price	1459.69
Today Daily Change	-16.29
Today Daily Change %	-1.10
Today daily open	1475.98

Trends
Daily SMA20	1465.11
Daily SMA50	1482.46
Daily SMA100	1486.95
Daily SMA200	1404.29

Levels
Previous Daily High	1480.39
Previous Daily Low	1472.9
Previous Weekly High	1466.62
Previous Weekly Low	1450.74
Previous Monthly High	1515.38
Previous Monthly Low	1445.8
Daily Fibonacci 38.2%	1477.53
Daily Fibonacci 61.8%	1475.76
Daily Pivot Point S1	1472.46
Daily Pivot Point S2	1468.94
Daily Pivot Point S3	1464.97
Daily Pivot Point R1	1479.95
Daily Pivot Point R2	1483.92
Daily Pivot Point R3	1487.44

Author

Flavio Tosti

Independent Analyst

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