The price of Gold started to range after the price peaked to its 3 month high. The price benefited before on fears over U.S. recovery which looks now more fragile with weaker economic data. Traders also weight the geopolitical tension in the Iraq and Ukraine and that is also pulling the price up. Today we should keep an eye on the ADP Non-farm Employment Change which is coming out at 12.15PM (GMT). At 3.00PM (GMT) Janet Yellen is about to speak at the International Monetary Fund. The trend is sideways. The support is lying at 1,306 and resistance at 1,335.
July 2, 2014 – Commodities News
Hot Asset For Today: Gold
The price of Gold started to range after the price peaked to its 3 month high. The price benefited before on fears over U.S. recovery which looks now more fragile with weaker economic data. Traders also weight the geopolitical tension in the Iraq and Ukraine and that is also pulling the price up. Today we should keep an eye on the ADP Non-farm Employment Change which is coming out at 12.15PM (GMT). At 3.00PM (GMT) Janet Yellen is about to speak at the International Monetary Fund. The trend is sideways. The support is lying at 1,306 and resistance at 1,335.
Related Posts: