FXstreet.com (Barcelona) - The precious metal is trading in a $26 range so far, with the extremes at $1745 and $1771.50, and trying to catch some breath after a 3-days losing streak.
A better scenario in the Eurozone, at least for today’s session, is helping markets to trade in positive territory.
There are not major announces for the rest of the day, however investors should be keeping an eye on the events coming out from Greece and Italy.
A weaker US dollar is helping the commodity prices as well, as it makes them cheaper to holders of other currencies.
In the same direction, recall that the Nomura Bank has revised up its forecast for the prices of gold to $2000/oz from $1800/oz for the next year.
The medium-term trend remains bullish. A break above 1778, would expose higher levels at 1810 and 1825. On the downside, a penetration of 1748 would open the door for 1737 and 1722
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