Price of Gold touched twice yesterday its 7 weeks lows but always bounced back. Finally we can see some increase in physical demand after the price dropped below $1,300/ounce. Meantime situation in Ukraine seems to calm down even though there is still some risk of escalating. In that case we would see the price climbing back above $1,300/ounce. Today the price should be affected by U.S. ADP Non-Farm Employment Change which will be release at 12.15PM (GMT) and we should also pay attention to IMF Managing Director Christine Lagarde speech at 3.00PM (GMT) about global economy. The movement is slightly downwards with support at 1,277 and resistance at 1,289.
April 2, 2014 – Commodities News
Hot Asset For Today: Gold
Price of Gold touched twice yesterday its 7 weeks lows but always bounced back. Finally we can see some increase in physical demand after the price dropped below $1,300/ounce. Meantime situation in Ukraine seems to calm down even though there is still some risk of escalating. In that case we would see the price climbing back above $1,300/ounce. Today the price should be affected by U.S. ADP Non-Farm Employment Change which will be release at 12.15PM (GMT) and we should also pay attention to IMF Managing Director Christine Lagarde speech at 3.00PM (GMT) about global economy. The movement is slightly downwards with support at 1,277 and resistance at 1,289.
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