Gold And Oil Pulled Up Due To Russia-Ukraine Conflict
March 3, 2014 9:05 am
March 03, 2014 – Commodities News
Hot Asset For Today: Gold
Price of Gold finished on Friday lower as most of the traders took their previous profits out. The price slid fro $1,332/ounce to $1,320/ounce. However, the world was watching during the weekend the situation in Ukraine and steps of Russia. As the tension has increased the price is climbing to its 4-month high and touched already $1,350/ounce. The price might increase more if the situation goes worse. We should be careful with longer-term position due to the fact that once the crisis calms down the price should slid back down. The trend is slightly bullish with support at 1,319 and resistance at 1,361.
Crude Oil WTI went up to its 5-month maximum because of the same reason as price of Gold. Tension between Russia and Ukraine pulling the price up to its fresh high $104.60/barrel. The sentiment has remained bullish so we might see the price even higher.
March 03, 2014 – Commodities News
Hot Asset For Today: Gold
Price of Gold finished on Friday lower as most of the traders took their previous profits out. The price slid fro $1,332/ounce to $1,320/ounce. However, the world was watching during the weekend the situation in Ukraine and steps of Russia. As the tension has increased the price is climbing to its 4-month high and touched already $1,350/ounce. The price might increase more if the situation goes worse. We should be careful with longer-term position due to the fact that once the crisis calms down the price should slid back down. The trend is slightly bullish with support at 1,319 and resistance at 1,361.
Crude Oil WTI went up to its 5-month maximum because of the same reason as price of Gold. Tension between Russia and Ukraine pulling the price up to its fresh high $104.60/barrel. The sentiment has remained bullish so we might see the price even higher.
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