After a volatile week, Gold finished the week around $1,200/ounce. The metal traded choppy as traders assessed the depreciating Ruble against gains in the stock market and the potential U.S interest rate hike.
Today, the price is trading in a tight range. The metal climbed slightly as the Dollar weakened but this sentiment has reversed. Traders should focus on the oil market as well as the stock market. Any increased geopolitical tension could also pull the price up. The movement is sideways. Support is at $1,185/ounce and resistance at $1,225/ounce.
December 22, 2014 – Commodities News
Gold
After a volatile week, Gold finished the week around $1,200/ounce. The metal traded choppy as traders assessed the depreciating Ruble against gains in the stock market and the potential U.S interest rate hike.
Today, the price is trading in a tight range. The metal climbed slightly as the Dollar weakened but this sentiment has reversed. Traders should focus on the oil market as well as the stock market. Any increased geopolitical tension could also pull the price up. The movement is sideways. Support is at $1,185/ounce and resistance at $1,225/ounce.
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