12:57 PM
alphaadvisory
Gold prices traded higher by 0.15% against the USD in the 24 hour
period ending 23:00GMT, at 1692.95 per ounce, after the Bank of Japan
indicated that it would introduce open-ended asset purchases from 2014,
thereby boosting speculation that a revival of the economy would raise
demand for the precious metal.
However, investors speculated that gains in precious metal may be capped, amid a lack of fresh catalysts, as investors also opted for riskier assets against the backdrop of a global economic recovery.
In the Asian session, at GMT0400, Gold is trading at 1693.50, marginally higher from yesterday’s close.
Gold is expected to find support at 1688.12, and a fall through could take it to the next support level of 1682.73. Gold is expected to find its first resistance at 1697.52, and a rise through could take it to the next resistance level of 1701.53.
However, investors speculated that gains in precious metal may be capped, amid a lack of fresh catalysts, as investors also opted for riskier assets against the backdrop of a global economic recovery.
In the Asian session, at GMT0400, Gold is trading at 1693.50, marginally higher from yesterday’s close.
Gold is expected to find support at 1688.12, and a fall through could take it to the next support level of 1682.73. Gold is expected to find its first resistance at 1697.52, and a rise through could take it to the next resistance level of 1701.53.
Posts
0 comments:
Post a Comment