The price of the goldwas pushed below $1,200/ounce just before Fed released its FOMC Meeting Minutes report. Recent rumors that some FOMC members would lift the interest rates in June spurred speculations over hawkish statements in the report. However, the actual reading was more dovish. The price recovered above $1,210/ounce to current $1,215/ounce. Physical demand has remained weak, as Chinese market will be close for one week due to public holidays. Today, keep an eye on the continuing negotiations between euro group and Greece. The movement is sideways. The support is found at 1,198 and resistance at 1,219.
February 19, 2015 – Commodities News
The price of the gold was pushed below $1,200/ounce just before Fed released its FOMC Meeting Minutes report. Recent rumors that some FOMC members would lift the interest rates in June spurred speculations over hawkish statements in the report. However, the actual reading was more dovish. The price recovered above $1,210/ounce to current $1,215/ounce. Physical demand has remained weak, as Chinese market will be close for one week due to public holidays. Today, keep an eye on the continuing negotiations between euro group and Greece. The movement is sideways. The support is found at 1,198 and resistance at 1,219.
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