Yesterday, Gold dropped to $1,252/ounce as demand for safe-have assets continued to weaken. In addition, the stock market sharply increased. We should expect the price of the yellow metal to drop further as the political crisis in Greece has faded out and the FOMC statement was hawkish.
Today, keep an eye on the U.S. Advanced GDP release. The movement is slightly bullish but this could change soon. Support is found at 1,244 and resistance at 1,300.
January 30, 2015 – Commodities News
Gold
Yesterday, Gold dropped to $1,252/ounce as demand for safe-have assets continued to weaken. In addition, the stock market sharply increased. We should expect the price of the yellow metal to drop further as the political crisis in Greece has faded out and the FOMC statement was hawkish.
Today, keep an eye on the U.S. Advanced GDP release. The movement is slightly bullish but this could change soon. Support is found at 1,244 and resistance at 1,300.
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