Gold prices are under severe pressure heading into the weekend say analysts from Triland Metals. They note that the stronger-than-expected nonfarm payrolls data propelled gold through the interim January lows at $1,167.30 and there is a chance that prices continue to move lower. “The $1130 low is back in sight now and there doesn’t seem to be the tightness (yet) in the physical market and nearby forwards that was a precursor to support in late 2014,” they say. Friday afternoon Comex April gold futures fell to a session low at $1,162.90 an ounce and are only marginally higher, trading at $1,164.50 an ounce.
