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

Gold unlikely to see upside above $1320/Oz: Saxo Bank

Posted on 07 April 2014

Gold prices witnessed a recovery towards weekend as US job growth data was less than expected and boosting safe haven demand for gold. US gold futures for June delivery rose 1.5% to settle at $1303.50 an ounce. Payrolls rose 192,000 in March which was below market expectations. With Fed Reserve indicating continuation of stimulus measures, gold stands supported at current levels.
Gold prices are unlikely to see any upside above $1320 an ounce in the near future due to lack of bullish news to drive the markets, according to Ole S Hansen, Head of Commodity Strategy at Saxo Bank………………………………………..Full Article: Source


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