The price of Gold touched yesterday its new 4-months highs ($1,355/ounce) as the tension in Ukraine has continue and that increased appetite for safe-haven asset. The price held high till 6.00AM (GMT) but as the European session started the investors took their profit sending the price all the way down to $1,336/ounce. However this drop can be just short-term and due to the fact that the tension continues the price might come back up. Physical demand has remain weak because of the higher price. The movement is slightly bearish with support at 1,318 and resistance at 1,356.
March 4, 2014 – Commodities News
Hot Asset For Today: Gold
The price of Gold touched yesterday its new 4-months highs ($1,355/ounce) as the tension in Ukraine has continue and that increased appetite for safe-haven asset. The price held high till 6.00AM (GMT) but as the European session started the investors took their profit sending the price all the way down to $1,336/ounce. However this drop can be just short-term and due to the fact that the tension continues the price might come back up. Physical demand has remain weak because of the higher price. The movement is slightly bearish with support at 1,318 and resistance at 1,356.
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