Gold was on a down trend from earlier this week. The yellow metal has been hit especially hard by tapering as its appeal as a safe haven declines. For now, the precious metal is ranging due to the lack of significant data and the coming of the weekend. However, the long term prospects for gold are still downward as the fed has made their intentions about ending the stimulus by the fall quite clear. In the meantime, look for support at 1320.23 and resistance at 1335.30.
March 21, 2014 – Commodities News
Hot Asset For Today: Gold
Gold was on a down trend from earlier this week. The yellow metal has been hit especially hard by tapering as its appeal as a safe haven declines. For now, the precious metal is ranging due to the lack of significant data and the coming of the weekend. However, the long term prospects for gold are still downward as the fed has made their intentions about ending the stimulus by the fall quite clear. In the meantime, look for support at 1320.23 and resistance at 1335.30.
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