Gold in the spot market struck a high of 1366.16 and a low of 1320.55 yesterday as gold edged up on Friday after plunging more than 3 percent in the previous session, but remained on track for its worst week in two months on fears the United States would curb its stimulus soon and as a U.S. strike on Syria looked less likely. Purchases from jewellers in Hong Kong and mainland China helped pluck gold from a four-week low struck on Thursday, although some buyers could be waiting for more declines in prices. Bullion has fallen more than 20 percent so far this year. The U.S. Federal Reserve may announce a cut in its massive bond purchases on Sept. 18 to start bringing the curtain down on nearly five years of super-easy dollars, which had sparked fears of inflation and encouraged investors to snap up bullion. Time of Writing : 1325 HRS - PST (Friday, September 13, 2013) DAILY TECHNICAL RESISTANCES AND SUPPORTS CURRENT PRICE: 1315.55 RESISTANCES: 1330.97 1339.23 1347.25 SUPPORTS: 1305.25 1297.05 1383.84
Posted on: Fri, 13 Sep 2013 08:28:41 +0000
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