Gold SLightly Down Before Tomorrow’s FOMC Statement
June 17, 2014 9:00 am
June 17, 2014 – Commodities News
Hot Asset For Today: Gold
The price of Gold reversed its upper-trend and fell during yesterday’s trading hours and today’s Asian session from $1,285/ounce to $1,263/ounce. The price reversed despite the fact that the situation in Iraq has remained serious which can point on the situation when traders are taking their profits from previous sharp movement up. The investors are now awaiting the U.S. report which is coming out at 6.00PM (GMT) tomorrow. The price might now range between the support and resistance with some pulling on the back of Iraq situation. We should also watch the U.S CPI data which is coming out 12.30PM (GMT). The movement is slightly bearish. The support is lying at 1,260 and resistance at 1,285.
June 17, 2014 – Commodities News
Hot Asset For Today: Gold
The price of Gold reversed its upper-trend and fell during yesterday’s trading hours and today’s Asian session from $1,285/ounce to $1,263/ounce. The price reversed despite the fact that the situation in Iraq has remained serious which can point on the situation when traders are taking their profits from previous sharp movement up. The investors are now awaiting the U.S. report which is coming out at 6.00PM (GMT) tomorrow. The price might now range between the support and resistance with some pulling on the back of Iraq situation. We should also watch the U.S CPI data which is coming out 12.30PM (GMT). The movement is slightly bearish. The support is lying at 1,260 and resistance at 1,285.
Related Posts: