Good morning. The NFP numbers are going to be released today which leads me to keep my hands in my pocket at least for 1 hour so that the news are digested by market players. Market is thin and liquidity is an issue considering that the US is going into pre-labor day mode so market participants will be headed for the exit mid-morning.
I closed my buy long position @1940 with good profit from 1928 and will wait to see how the market reacts to the numbers so as to a make decision, although doing nothing is an option as well. A knee-jerk reaction is likely to happen and then we will see the price all over the place between 1920 and 1950 with the reminder that a daily close below 1925 won´t be good for Gold from the technical analysis point of view.
If you decide to buy, buy the lows after the news with a tight SL order below 1918, I do not recommend selling because short coverings can be brutal once the dust has settled.
Keep and eye on the stock market as well as there seems to be a wave of liquidation most likely associated to profit taking.
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