Price of gold has continued its sideways movement from last week and despite very important data did not break through its support or resistance. We can see that the price would have decrease as the tension in Iraq slightly calmed down, however the crisis is not over yet and investors are patience before selling. The physical demand might be stronger this month as Muslim’s holiday started. This week the U.S. Non-farm payrolls are coming out and the price will be probably driven by the speculation before the actual release. The movement is sideways. The support is lying at 1,306 and resistance at 1,326.
June 30, 2014 – Commodities News
Hot Asset For Today: Gold
Price of gold has continued its sideways movement from last week and despite very important data did not break through its support or resistance. We can see that the price would have decrease as the tension in Iraq slightly calmed down, however the crisis is not over yet and investors are patience before selling. The physical demand might be stronger this month as Muslim’s holiday started. This week the U.S. Non-farm payrolls are coming out and the price will be probably driven by the speculation before the actual release. The movement is sideways. The support is lying at 1,306 and resistance at 1,326.
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