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

Gold price challenges $1350

Posted on 10 March 2014

From last Friday’s close at $1322, gold opened strongly on Monday trading, as high as $1355 before losing two thirds of the rise on Tuesday. On Thursday afternoon (GMT) gold rallied back to challenge the $1350 level. This morning (Friday) it is in the balance as to whether or not gold will need more consolidation before moving on towards $1400, with everyone watching out for US employment numbers.
The change in sentiment over the last eight weeks has encouraged small traders to go long on gold. Normally, market-makers would be able to mark prices down aggressively to shake out these short-term speculators, but it has not recently happened. This suggests that the underlying market is robust………………………………………..Full Article: Source


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VRS - who has written 36729 posts on Opalesque Commodities Briefing.


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