The price of Gold peaked up all the way above $1,320/ounce the highest price since April. Geopolitical tensions in Iraq and Ukraine and a weaker U.S. Dollar have prompted some to cover their short positions and that leaded to that bullish movement. But this is unlikely to last so we do not suggest to place longer-term buying positions, contrarily we should pay attention to the selling opportunities. The support is now lying at 1,307 and resistance at 1,330.
The price of Crude did not move much and the only good trading opportunity we saw when the Philadelphia Fed Manufacturing Index was released and showed positive data. The market reacted with buying position on oil and the price slightly increase to $106.25/barrel. Today we do not expect higher volatility as the U.S market does not release any data. The price might be influenced by Iraq situation. The movement is sideways with support lying at 105.60 and resistance at 107.00.
June 20, 2014 – Commodities News
Hot Asset For Today: Gold
The price of Gold peaked up all the way above $1,320/ounce the highest price since April. Geopolitical tensions in Iraq and Ukraine and a weaker U.S. Dollar have prompted some to cover their short positions and that leaded to that bullish movement. But this is unlikely to last so we do not suggest to place longer-term buying positions, contrarily we should pay attention to the selling opportunities. The support is now lying at 1,307 and resistance at 1,330.
The price of Crude did not move much and the only good trading opportunity we saw when the Philadelphia Fed Manufacturing Index was released and showed positive data. The market reacted with buying position on oil and the price slightly increase to $106.25/barrel. Today we do not expect higher volatility as the U.S market does not release any data. The price might be influenced by Iraq situation. The movement is sideways with support lying at 105.60 and resistance at 107.00.
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