The price of Gold started to range between $1,250/ounce and $1,257/ounce on a thin market due to no economic data. The price of Gold was spurred last week when European Central Bank introduced cut in the interest rates, however the U.S. stocks increased again to theirs historical highs and therefore the bullish movement on the Gold stopped. Today we should keep an eye on the U.S. JOLTS Job Openings at 2.00PM (GMT). The labor market seems to be as that strong as in pre-recession time. That might make some trading opportunities. The support is lying at 1,241 and resistance at 1,261.
June 10, 2014 – Commodities News
Hot Asset For Today: Gold
The price of Gold started to range between $1,250/ounce and $1,257/ounce on a thin market due to no economic data. The price of Gold was spurred last week when European Central Bank introduced cut in the interest rates, however the U.S. stocks increased again to theirs historical highs and therefore the bullish movement on the Gold stopped. Today we should keep an eye on the U.S. JOLTS Job Openings at 2.00PM (GMT). The labor market seems to be as that strong as in pre-recession time. That might make some trading opportunities. The support is lying at 1,241 and resistance at 1,261.
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