Gold dropped back towards $1,170/ounce on the back of positive U.S data. The commodity is under pressure as U.S. data has been consistently strong, supporting speculation that the Fed will increase interest rates sooner than the second half of 2015.
During the Asian session the price increased as physical demand picked up. The movement is sideways. Support is found at 1,170 and resistance at 1,190.
December 26, 2014 – Commodities News
Gold
Gold dropped back towards $1,170/ounce on the back of positive U.S data. The commodity is under pressure as U.S. data has been consistently strong, supporting speculation that the Fed will increase interest rates sooner than the second half of 2015.
During the Asian session the price increased as physical demand picked up. The movement is sideways. Support is found at 1,170 and resistance at 1,190.
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