Heavy pressure on European markets as well as weakness in the US markets caused investors to boost Gold prices today. The precious metal reached as high as $1,237 and is currently trading at $1,227. Although price is again in its main downtrend in the short-term, aggressive bulls might make another attempt to push prices above $1,240.
However, with world indices in the red today, it is still to early to confirm that Gold is going down again. First support is seen at $1,225, second support $1,208. First resistance is seen at $1,237, second resistance $1,243.
Good analysis, thank you.
ReplyDeleteVery helpful assessment.
ReplyDeleteIt seems we had today a reversal day!
ReplyDeleteLets see what the FOMC brings to the table later today.
ReplyDeleteVery interesting and useful information
ReplyDeleteValuable information! Thanks
ReplyDeleteI will keep eye on gold.
ReplyDeleteEngrossing estimate.
ReplyDeleteGood reporting, excellent.
ReplyDelete