Gold reached a low of $1,155/ounce but then slightly corrected upwards to its current level of $1,163/ounce. The price has been falling as the market is speculating over a possible interest rate increase. This speculation may continue until the actual FOMC meeting which will take place next Tuesday and Wednesday. If the Fed decide to erase the word “patient” from their policy, the price of the yellow metal could fall as low as $1,130/ounce.
The movement is sideways. Support is found at 1,150.0 and resistance at 1,193.0.
March 11, 2015 – Commodities News
Gold
Gold reached a low of $1,155/ounce but then slightly corrected upwards to its current level of $1,163/ounce. The price has been falling as the market is speculating over a possible interest rate increase. This speculation may continue until the actual FOMC meeting which will take place next Tuesday and Wednesday. If the Fed decide to erase the word “patient” from their policy, the price of the yellow metal could fall as low as $1,130/ounce.
The movement is sideways. Support is found at 1,150.0 and resistance at 1,193.0.
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