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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

Chances for rebound of gold price diminish

Posted on 10 June 2013

After the price of the yellow metal failed several times to crack the resistance level at 1,400 U.S. dollars per ounce, upwards momentum decreased further as physical demand has slowed down, said an expert on gold.
After short rise to 1,414 dollars per ounce on Thursday, Gold closed Friday down at 1,385 dollars per ounce. “It has been disappointing to see that gold, again and again, could not hold to gains and prices above 1,400 dollars,” said Gerhard Schubert, head of precious metals at bank Emirates NBD in Dubai, in his weekly commentary released on Saturday………………………………………..Full Article: Source


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