Following the FOMC statement, Gold dropped to $1,280/ounce. The report was hawkish and removed the appeal of the safe haven asset. The price could continue downwards today and reach its support level as the market adjusts to the new information. In addition, the Greek crisis is passing and nervousness on the market is also fading out.
The movement is slightly bearish. Support is found at 1,272 and resistance at 1,300.
January 29, 2015 – Commodities News
Gold
Following the FOMC statement, Gold dropped to $1,280/ounce. The report was hawkish and removed the appeal of the safe haven asset. The price could continue downwards today and reach its support level as the market adjusts to the new information. In addition, the Greek crisis is passing and nervousness on the market is also fading out.
The movement is slightly bearish. Support is found at 1,272 and resistance at 1,300.
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