On Friday, Gold returned below $1,200/ounce as tension in Yemen disappeared. The downwards movement was also supported by Janet Yellen’s speech. Even though her comments were not hawkish, she supported hiking rates this year. Overall it seems more likely that the hike will occur in September.
The price of the yellow metal is currently trading below $1,190/ounce. The movement is slightly bearish. Support is found at 1,186.5 and resistance at 1,220.0.
March 30, 2015 – Commodities News
Gold
On Friday, Gold returned below $1,200/ounce as tension in Yemen disappeared. The downwards movement was also supported by Janet Yellen’s speech. Even though her comments were not hawkish, she supported hiking rates this year. Overall it seems more likely that the hike will occur in September.
The price of the yellow metal is currently trading below $1,190/ounce. The movement is slightly bearish. Support is found at 1,186.5 and resistance at 1,220.0.
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