The price of the goldfell and broke through its support as the American session started. There are two reasons behind this drop. First, there are rumors going around that Greece will request the extension of their loan which expires in the end of February despite the fact that they never wanted. Second, today the FOMC meeting minutes is coming out and most of traders expect hawkish statements. In addition, the physical demand weakened as Chinese week-long Lunar New Year holiday started. The movement is sideways. The support is found at 1,204 and resistance at 1,239.
February 18, 2015 – Commodities News
The price of the gold fell and broke through its support as the American session started. There are two reasons behind this drop. First, there are rumors going around that Greece will request the extension of their loan which expires in the end of February despite the fact that they never wanted. Second, today the FOMC meeting minutes is coming out and most of traders expect hawkish statements. In addition, the physical demand weakened as Chinese week-long Lunar New Year holiday started. The movement is sideways. The support is found at 1,204 and resistance at 1,239.
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