Yesterday, Gold traded sideways during early trade. Later in the session, the price dropped as fears of a Greece default subsided in the near term. Greece managed to make a loan repayment of 750 million euros to the IMF, removing fears that they could leave the Euro.
Today, traders should watch U.S JOLTS Job Openings data at 2PM (GMT). In addition, make sure to focus on the situation with Greece as their situation is still urgent and they are likely to run out of money in the next few days. The movement is sideways. Support is found at 1,170 and resistance at 1,200.0.
May 12, 2015 – Commodities News
Gold
Yesterday, Gold traded sideways during early trade. Later in the session, the price dropped as fears of a Greece default subsided in the near term. Greece managed to make a loan repayment of 750 million euros to the IMF, removing fears that they could leave the Euro.
Today, traders should watch U.S JOLTS Job Openings data at 2PM (GMT). In addition, make sure to focus on the situation with Greece as their situation is still urgent and they are likely to run out of money in the next few days. The movement is sideways. Support is found at 1,170 and resistance at 1,200.0.
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