Posts Tagged ‘gold’

As the week begins, Gold is still trading within a narrow range while staying under the $1190 resistance.

Supported from $1180, online forex trading will potentially see similar prices as last week where gold had support at $1180 and rose to a $1200 resistance.

The trend for the previous two months has been an attraction to the $1200 resistance, which is a key level.

Two weeks ago, the price on Gold fell through this level and down to $1170, the lowest in six weeks. Overall, though, Gold has tended to gravitate to $1200.
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In the recent commodity trading news, is seems as if those allured by the profit of gold may be in for a disappointing return; at least for the short term.

As this benchmark indicator hints at other financial trends, recent developments in regards to housing sector data in the United States alongside a bullish dollar have caused the yellow metal to take a slightly bearish outlook.

Figures have shown that investor appetite is on the upswing; thus fueling their ability to enter into open trading positions.

As always, the inverse relationship to the dollar is another reason for slight concern. However, the potential damage in international trade due to increasing concerns over the Ebola outbreak may serve to mute the overall negative outlook for gold in the coming weeks.
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