On Friday, the price of gold again jumped up to new 4-month high. The price went as high as $1,280/ounce as the safe-haven demand picked up. As long as the uncertainty in the market remains. Some traders believes that the price might go even higher. However, we should be careful, because in past we saw a sharp reversal on this asset. Today, we should not expect much volatility as the U.S. market will remain closed. The movement is sideways. The support is found at 1,255 and resistance at 1,282.
January 19, 2015 – Commodities News
On Friday, the price of gold again jumped up to new 4-month high. The price went as high as $1,280/ounce as the safe-haven demand picked up. As long as the uncertainty in the market remains. Some traders believes that the price might go even higher. However, we should be careful, because in past we saw a sharp reversal on this asset. Today, we should not expect much volatility as the U.S. market will remain closed. The movement is sideways. The support is found at 1,255 and resistance at 1,282.
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