7 Feb 2014
Gold ends flat, far from highs
FXStreet (Córdoba) - Spot gold finished around $1,258 on Thursday, practically flat and is headed toward a weekly gain of $10. The value of the ounce was once again rejected from levels on top of $1,265.
Before Wall Street’s opening bell gold jumped to $1,267 but it retreated quickly, pulling back below $1,260.
Gold unable to make a clear break
Price is moving with an upside bias in the short-term but it has been unable to rally above $1,265. For two days in a row it was rejected from levels on top of $1,265. The release of the Non Farm Payrolls report in the US, could increase volatility in gold trading.
The downside found support again around $1,255. If the price breaks and holds below the mentioned level it could lose momentum, attracting sellers.
Before Wall Street’s opening bell gold jumped to $1,267 but it retreated quickly, pulling back below $1,260.
Gold unable to make a clear break
Price is moving with an upside bias in the short-term but it has been unable to rally above $1,265. For two days in a row it was rejected from levels on top of $1,265. The release of the Non Farm Payrolls report in the US, could increase volatility in gold trading.
The downside found support again around $1,255. If the price breaks and holds below the mentioned level it could lose momentum, attracting sellers.