On Friday, Gold decreased to $1.215/ounce level despite declines in the stock market and worse than expected U.S. PPI data. Bearish sentiment continued during today’s Asian session and the metal dropped to $1,212/ounce. The sentiment could be explained by a sell-off and profit taking.
Remember that the Fed may provide hints regarding when they will increase interest rates on Wednesday. The movement is slightly bearish. Support is found at 1,208 and resistance at 1,240.
December 15, 2014 – Commodities News
Gold
On Friday, Gold decreased to $1.215/ounce level despite declines in the stock market and worse than expected U.S. PPI data. Bearish sentiment continued during today’s Asian session and the metal dropped to $1,212/ounce. The sentiment could be explained by a sell-off and profit taking.
Remember that the Fed may provide hints regarding when they will increase interest rates on Wednesday. The movement is slightly bearish. Support is found at 1,208 and resistance at 1,240.
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