Gold is climbing and has already added $30/ounce. The metal is benefitting as a safe haven asset as the Euro has dropped and Crude Oil is testing $50/barrel. Based on the market we can infer that many investors believe that Greece will leave the Euro-zone if the left wing party wins the election.
The price is currently ranging just below $1,210/ounce but could continue upwards until the market sees signs of stabilization. The movement is slightly bullish. Support is found at 1,185 and resistance at 1,214.
January 6, 2015 – Commodities News
Gold
Gold is climbing and has already added $30/ounce. The metal is benefitting as a safe haven asset as the Euro has dropped and Crude Oil is testing $50/barrel. Based on the market we can infer that many investors believe that Greece will leave the Euro-zone if the left wing party wins the election.
The price is currently ranging just below $1,210/ounce but could continue upwards until the market sees signs of stabilization. The movement is slightly bullish. Support is found at 1,185 and resistance at 1,214.
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