After trading just below $1,200/ounce, Gold dropped back to $1,180/ounce. Losses were seen as the Dollar continued to strengthen and positive sentiment remained on the US stock market. During the Asian session, the price rebounded upwards as the Dollar dropped and the metal is currently trading around $1,188/ounce.
It is likely that the price will remain between $1,170/ounce and $1,200/ounce for the rest of the year and so we recommend trading with short term expiries. The movement is sideways. Support is found at 1,170 and resistance at 1,200.
December 30, 2014 – Commodities News
Gold
After trading just below $1,200/ounce, Gold dropped back to $1,180/ounce. Losses were seen as the Dollar continued to strengthen and positive sentiment remained on the US stock market. During the Asian session, the price rebounded upwards as the Dollar dropped and the metal is currently trading around $1,188/ounce.
It is likely that the price will remain between $1,170/ounce and $1,200/ounce for the rest of the year and so we recommend trading with short term expiries. The movement is sideways. Support is found at 1,170 and resistance at 1,200.
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