On Wednesday, Gold slightly recovered from Tuesday’s decline and returned above $1,270/ounce. The price of the yellow metal reacted to tumbling oil prices as WTI fell from $52/barrel to $48/barrel. Traders should be cautious when opening any long-term trades as the Non-farm payrolls report will be released tomorrow and could push the price in either direction.
Today, traders should watch the U.S. Preliminary Nonfarm Productivity. The movement is sideways. Support is found at 1,255 and resistance at 1,284.
February 5, 2015 – Commodities News
Gold
On Wednesday, Gold slightly recovered from Tuesday’s decline and returned above $1,270/ounce. The price of the yellow metal reacted to tumbling oil prices as WTI fell from $52/barrel to $48/barrel. Traders should be cautious when opening any long-term trades as the Non-farm payrolls report will be released tomorrow and could push the price in either direction.
Today, traders should watch the U.S. Preliminary Nonfarm Productivity. The movement is sideways. Support is found at 1,255 and resistance at 1,284.
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