| GOLD (Spot) intraday: the downside prevails. |
Pivot: 1771.00
Our Preference: SHORT positions below 1771 with 1760 & 1753 in sight. Alternative scenario: The upside penetration of 1771 will call for a rebound towards 1779.5 & 1784. Comment: capped by a negative trend line. |
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Gold – Gold sees a drop due to EU news
The price of gold fell by more than $7.50 an ounce yesterday, as news out of the euro-zone continued to generate risk aversion in the marketplace. Despite hitting an 11-month high last week, gold has taken fairly significant losses in recent days due to concerns regarding the pace of the global economic recovery. By the end of the European trading, prices were steady at the $1766 level.
Today, investors will want to watch for any announcements out of the euro zone. Positive news may generate risk taking among investors, which could lead to an increase in demand for gold. At the same time, traders will want to note that any disappointing announcements could result in additional losses for gold.
Disclaimer The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities. Visit Us www.deryworldscorp.web.id
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