Gold continued its downwards trend and shortly fell below $1,160/ounce. As written previously, traders are taking caution before placing trades on the yellow metal. Speculation that the Fed might decide to increase the interest rate soon is pushing the price lower and lower. Without geopolitical tension, traders should be careful if placing ‘call’ positions.
Investors will pay attention to upcoming talks between Greece and the ECB which will start on Wednesday. The movement is slightly bearish. Support is found at 1,150.0 and resistance at 1,193.0.
March 9, 2015 – Commodities News
Gold
Gold continued its downwards trend and shortly fell below $1,160/ounce. As written previously, traders are taking caution before placing trades on the yellow metal. Speculation that the Fed might decide to increase the interest rate soon is pushing the price lower and lower. Without geopolitical tension, traders should be careful if placing ‘call’ positions.
Investors will pay attention to upcoming talks between Greece and the ECB which will start on Wednesday. The movement is slightly bearish. Support is found at 1,150.0 and resistance at 1,193.0.
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