On Thursday, Gold broke its resistance at $1,312.00/ounce and touched $1,315/ounce. Markets reacted to the negative sentiment on the stock market. During the Asian session the price sharply climbed above $1,320/ounce after the U.S. President, Barack Obama, agreed to strike Iraq from the air. Safe-haven assets immediately benefited. In the Middle East the geopolitical situation is also escalating as no truce was reached and fire started again.
The trend is slightly bullish. Support is found at 1,300 and resistance at 1,325.
August 8, 2014 – Commodities News
Gold
On Thursday, Gold broke its resistance at $1,312.00/ounce and touched $1,315/ounce. Markets reacted to the negative sentiment on the stock market. During the Asian session the price sharply climbed above $1,320/ounce after the U.S. President, Barack Obama, agreed to strike Iraq from the air. Safe-haven assets immediately benefited. In the Middle East the geopolitical situation is also escalating as no truce was reached and fire started again.
The trend is slightly bullish. Support is found at 1,300 and resistance at 1,325.
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