The price of Gold returned down to $1,252/ounce during yesterday’s trading hours. The price has reacted to speculation over the FOMC meeting where we expect another cut in monetary stimulus to $65 billion/month. The physical demand also remained weaker as the price jumped to a 2-month maximum. Today we should closely watch the U.S. data (Core Durable Goods Orders at 1.30PM (GMT)and CB Consumer Confidence Index at 3.00PM (GMT) ) as well as the stock market results. The trend is slightly bearish. The support is lying at 1,248 and resistance at 1,265.
Crude Oil WTI reversed its bullish trend and fell to $95.20/barrel as the U.S. housing data came out worse-than-expected. The price might add some profits today due to more important U.S. data which is expected to be strong. The sentiment is slightly bullish with support at 94.35 and resistance at 96.40.
January 28, 2014 – Commodities News
Hot Asset For Today: Gold
The price of Gold returned down to $1,252/ounce during yesterday’s trading hours. The price has reacted to speculation over the FOMC meeting where we expect another cut in monetary stimulus to $65 billion/month. The physical demand also remained weaker as the price jumped to a 2-month maximum. Today we should closely watch the U.S. data (Core Durable Goods Orders at 1.30PM (GMT)and CB Consumer Confidence Index at 3.00PM (GMT) ) as well as the stock market results. The trend is slightly bearish. The support is lying at 1,248 and resistance at 1,265.
Crude Oil WTI reversed its bullish trend and fell to $95.20/barrel as the U.S. housing data came out worse-than-expected. The price might add some profits today due to more important U.S. data which is expected to be strong. The sentiment is slightly bullish with support at 94.35 and resistance at 96.40.
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