Gold price tumbles following dollar appreciation due to better than expected NFP data

SAN FRANCISCO (July 5) Looking at the chart of Gold, we can notice that NFP data released this afternoon hit severely the price of Gold, which broke through some significant support zones. Price action brushed through 1234$ and 1222$. At the time of writing Gold continues its downtrend and has already taken 1208.8$ level, next support zone will be found at 1187$/ounce and in the worst case scenario 1180$/ounce.