Gold has been resuming its trajectory downwards after retracing some of its losses from earlier this week. Now, the precious metal is begging to range due to the coming weekend. Note that the long term pressure on gold is downward due to the influence of US monetary policy. Bearish movement will be more likely in the future – especially as the effects of good Chinese data wear off. Look for support at 1292 and resistance at 1322.
July 18, 2014 – Commodities News
Hot Asset For Today: Gold
Gold has been resuming its trajectory downwards after retracing some of its losses from earlier this week. Now, the precious metal is begging to range due to the coming weekend. Note that the long term pressure on gold is downward due to the influence of US monetary policy. Bearish movement will be more likely in the future – especially as the effects of good Chinese data wear off. Look for support at 1292 and resistance at 1322.
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