Free Trial

In commodities, spot gold was closing near.....>

GOLD
GOLD: In commodities, spot gold was closing near $1,322.35 per ounce, after
trading in a $1,298.46 to $1,323.70 range. Gold posted a high of $1,326.89
August 29.
- This week's decisive closes above $1,300 target $1,337.38, the high seen Nov.
9, in the wake of the U.S. election. The 2016 high was $1,375.34, seen July 11.
- OUTLOOK: The $1295.5 support confirmed significance with gold bouncing
aggressively form a dip back towards this level Thursday. The recovery from
Thursday lows sees immediate pressure back on the $1326.1-1352.6 region where
2017 & monthly highs and the daily bull channel top are situated. The Bollinger
top ($1322.0) is the key concern for bulls. Bears now need a close below $1213.7
to ease bullish pressure.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.