World gold had a slight decline yesterday around 1773 when the US released data "The number of applications for unemployment benefits" fell to the lowest level in 52 years.
- The number of first-time jobless claims in the US increased lower than expected, when there were only 184,000 more applications last week, compared with the initial forecast of 215 thousand. This number decreased by 43 thousand compared to the previous week, and also the lowest level since September 1969. Positive data put downward pressure on Gold. And gold sometimes declines around 1773.
- Gold has moved quite narrowly this week as there are not many important economic data to be released except for tonight's CPI data. If tonight's CPI data is released above expectations, Gold will be under strong downward pressure. Because the Fed's meeting next week may send a clearer tightening signal.
- Gold broke the small ascending channel giving bearish pressure. In this morning's trading session, it is possible that gold will correct slightly to the 1780 zone and then continue to go down. Take profit target at safe zone 1770-1760.
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