Free Trial

The yellow metal traded either side of.........>

GOLD
GOLD: The yellow metal traded either side of $1300/oz after it managed to
recover the initial losses that were posted in the wake of the FOMC MonPol
decision, supported by the impending US decision on China tariffs.
- Lacklustre trading continues with gold remaining capped ahead of the 200-DMA.
Narrowing Bollinger bands increase the risk of a break out in coming days. Bulls
need a close above $1310.5 to ease bearish pressure and shift immediate focus to
$1314.1-1326.6 where 55 & 100-DMAs are found. Bears need a close below the
100-WMA to reconfirm a bearish bias and target $1233.4-1234.3 where the 200-WMA
and long term trend line off late Dec 2015 lows are noted.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.