29 Jul 2013
Gold being offered ahead of $1335
FXstreet.com (Barcelona) - Gold is currently trading around fresh session lows last at $1331, off recent session highs at $1335, while Silver is also easing below the key $20.00 handle, last at $19.94 bids, slightly in the negative for the week so far.
Gold bounced strongly in early Friday NY session from daily lows at $1312, ahead of August futures contract delivery, having last trading day for that contract this coming Wednesday. Copper also had a massive sell-off Friday, falling from around daily highs at $3.18, but has not yet bounced, trading last around the $3.09 level.
Oil in the other hand is last totally flat at around the $104.5 level, holding above the $104 support for last 2 weeks, but retracing from fresh 15-month highs printed past July 19 around the $109 handle, ahead of a pretty busy week, including FOMC, US GDP, NFP, etc.
Gold bounced strongly in early Friday NY session from daily lows at $1312, ahead of August futures contract delivery, having last trading day for that contract this coming Wednesday. Copper also had a massive sell-off Friday, falling from around daily highs at $3.18, but has not yet bounced, trading last around the $3.09 level.
Oil in the other hand is last totally flat at around the $104.5 level, holding above the $104 support for last 2 weeks, but retracing from fresh 15-month highs printed past July 19 around the $109 handle, ahead of a pretty busy week, including FOMC, US GDP, NFP, etc.