Gold Trend! 24-01-2012Technical:
Pivot: $1674. Buy gold above $1674, next upside targets will be $1685, $1693 and $1703. Sell gold only below $1674 downside targets will be $1665, $1655 and $1647.
Fundamental:
Gold hardly moved on Tuesday as firm Tokyo futures and a pick up in demand in India helped it defy pressure from a euro that was weakened after European finance ministers rejected an offer by Greece's private creditors to help restructure its debts. Holdings of the largest gold-backed exchange-traded-fund (ETF), New York's SPDR Gold Trust, slipped about 0.41 percent on Monday from Friday.
By
M.Zohaib Gadit
Forex Trading Consultant
Pivot: $1674. Buy gold above $1674, next upside targets will be $1685, $1693 and $1703. Sell gold only below $1674 downside targets will be $1665, $1655 and $1647.
Fundamental:
Gold hardly moved on Tuesday as firm Tokyo futures and a pick up in demand in India helped it defy pressure from a euro that was weakened after European finance ministers rejected an offer by Greece's private creditors to help restructure its debts. Holdings of the largest gold-backed exchange-traded-fund (ETF), New York's SPDR Gold Trust, slipped about 0.41 percent on Monday from Friday.
By
M.Zohaib Gadit
Forex Trading Consultant
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