On Friday Gold declined as the U.S. Dollar extended its recent profits, pushing the price of the safe-have metal to its lowest value since July 2010. Commodity prices are under pressure after Oil reached such a surprising low and investors are hesitant to trade in such a risky market.
Today, traders should watch the U.S. ISM Manufacturing PMI data which will be released at 3PM (GMT). The trend is sideways. Support is found at 1,160 and resistance at 1,178.
November 3, 2014 – Commodities News
Gold
On Friday Gold declined as the U.S. Dollar extended its recent profits, pushing the price of the safe-have metal to its lowest value since July 2010. Commodity prices are under pressure after Oil reached such a surprising low and investors are hesitant to trade in such a risky market.
Today, traders should watch the U.S. ISM Manufacturing PMI data which will be released at 3PM (GMT). The trend is sideways. Support is found at 1,160 and resistance at 1,178.
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