Gold Trend! 29-12-2011
Technical:
Buy gold above $1570 next upside target will $1585, $1600 and $1610. If gold breaks $1550 level, sell gold, downside target will $1541, $1533 and $1524.
Fundamental:
Gold dropped near a three-month low on Thursday, remaining under pressure due to a firm dollar, while investors fretted over an important Italian bond auction later in the day. The 2.5-percent drop in gold prices in the previous session failed to impress Asia's physical buyers, who have mostly moved to the sidelines of the market as they wait for the new year.
By
M.Zohaib Gadit
Forex Trading Consultant
Technical:
Buy gold above $1570 next upside target will $1585, $1600 and $1610. If gold breaks $1550 level, sell gold, downside target will $1541, $1533 and $1524.
Fundamental:
Gold dropped near a three-month low on Thursday, remaining under pressure due to a firm dollar, while investors fretted over an important Italian bond auction later in the day. The 2.5-percent drop in gold prices in the previous session failed to impress Asia's physical buyers, who have mostly moved to the sidelines of the market as they wait for the new year.
By
M.Zohaib Gadit
Forex Trading Consultant
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