Although Filing Report Jobless worse than expected in the week up to 336,000 from the previous week's 320,000 . However, a separate report from the Labor Department, the average number of applications for unemployment benefits 4-week average to date 08/17/2013 was 320,000, is so good and the lowest since 2007.
This suggests that the labor market is improving .The 4-week average will reflect the overall picture rather than the data each week.
Another report showed U.S. house prices rose 7.6% in the 07 months compared with 6% of 06 months .Thus, the housing market is also positive developments.
Why gold price not reduced ?
Bloomberg explained by investors closing contract status for short sales their first month , While the gold price broke milestones 1300 but went up strong.
Strategy :
Sell Stop : 1370
Stop loss : 1378
Take Profit 1 : 1360
Take Profit 2 : 1350
Price at time of writing : 1376 USD/oz
Hope luck ! :)
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