Yesterday, Gold traded with high volatility and climbed to $1,225/ounce. Demand for safe haven assets was spurred by nervousness on the Russian market as the Ruble declined more than 15% against the U.S. Dollar over a few hours. However, once a price correction began for the USD/RUB, the price immediately dropped back below $1,190/ounce.
Today, higher volatility is expected as the FOMC report should provide new hints as to when the Fed will increase their interest rates. The movement is sideways. Support is found at 1,180 and resistance at 1,225.
December 17, 2014 – Commodities News
Gold
Yesterday, Gold traded with high volatility and climbed to $1,225/ounce. Demand for safe haven assets was spurred by nervousness on the Russian market as the Ruble declined more than 15% against the U.S. Dollar over a few hours. However, once a price correction began for the USD/RUB, the price immediately dropped back below $1,190/ounce.
Today, higher volatility is expected as the FOMC report should provide new hints as to when the Fed will increase their interest rates. The movement is sideways. Support is found at 1,180 and resistance at 1,225.
Related Posts: