Gold is ranging ahead tomorrow’s Nonfarm Payrolls data. Until then, the precious metal is unlikely to move drastically as its strength is linked to how traders view the US economy. Though there are other influences on the price of gold, such as physical demand in China and India, there is not a lot of important data concerning these two factors so they are also unlikely to affect the yellow metal in the near future. Look for support at 1240 and resistance at 1250.
June 5, 2014 – Commodities News
Hot Asset For Today: Gold
Gold is ranging ahead tomorrow’s Nonfarm Payrolls data. Until then, the precious metal is unlikely to move drastically as its strength is linked to how traders view the US economy. Though there are other influences on the price of gold, such as physical demand in China and India, there is not a lot of important data concerning these two factors so they are also unlikely to affect the yellow metal in the near future. Look for support at 1240 and resistance at 1250.
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