Yesterday, Gold traded with lower volatility. The price slightly decreased from $1,202/ounce to $1,185/ounce following the FOMC statement in which the Fed upgraded the economic outlook. However, recent financial instability has increased demand for gold and this helped pull the price back up towards $1,200/ounce.
Today, pay attention to the U.S. Philadelphia Manufacturing Index which will be released at 3.00PM (GMT). The movement is slightly sideways. Support is found at 1,180 and resistance at 1,225.
December 18, 2014 – Commodities News
Gold
Yesterday, Gold traded with lower volatility. The price slightly decreased from $1,202/ounce to $1,185/ounce following the FOMC statement in which the Fed upgraded the economic outlook. However, recent financial instability has increased demand for gold and this helped pull the price back up towards $1,200/ounce.
Today, pay attention to the U.S. Philadelphia Manufacturing Index which will be released at 3.00PM (GMT). The movement is slightly sideways. Support is found at 1,180 and resistance at 1,225.
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