On Friday, Gold moved in the same direction as the dollar which is quite rare. The price climbed despite the stronger dollar which appreciated as FOMC member, Jeffrey Lacker, supported a June interest rate hike. As the world stock reached highs not seen in several years, we would usually see Gold declining. Therefore, we could see a price correction when investors see that the price is still quite high.
Bearish sentiment appears to be ongoing today as no fundamental data has supported a jump. The movement is slightly bearish. Support is found at 1,192 and resistance at 1,224.0.
April 13, 2015 – Commodities News
Gold
On Friday, Gold moved in the same direction as the dollar which is quite rare. The price climbed despite the stronger dollar which appreciated as FOMC member, Jeffrey Lacker, supported a June interest rate hike. As the world stock reached highs not seen in several years, we would usually see Gold declining. Therefore, we could see a price correction when investors see that the price is still quite high.
Bearish sentiment appears to be ongoing today as no fundamental data has supported a jump. The movement is slightly bearish. Support is found at 1,192 and resistance at 1,224.0.
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