Only small fluctuations in gold MKS traders said uplink 1200 is a key resistance Tuesday (November 18th) gold prices remain at near to slightly below the two week highest level area, signal is located near a 4 year high of $USA economy and stronger still on gold applied pressure. The disc at the gold in the 1186 U.S. dollars / ounce fluctuate around. Increased in the European Central Bank officials to further stimulate the expected $, stable performance, investors are still concerned about whether Japan will appear ahead of elections in a recession. A strong dollar is currently very unfavorable factors for gold. MKS trader James Gardiner said: the dollar change is still the main catalytic gold change factors, and short covering is why gold is rising sharply. Down in support of 1181 to $1182 an ounce level, up 1200 U. S. dollars / ounce is a key resistance. In addition, Monday the U.S. manufacturing data has increased slightly, safe haven demand for gold also has some effect. SPDR gold inflow of ETF 0.33% on Monday, bringing its total holdings increased to 723.01 tons, is the first inflow of nearly a month. Holdings of gold ETF is reflected in investor sentiment, the SPDR gold ETF on Tuesday ushered in the 10 anniversary, but its holdings currently still in the vicinity of the lowest level in 6 years. On the other hand, the Central Bank of India and the government of India are discussed to increase gold imports, the countrys trade deficit is still need to pay attention to. If India really have more restrictions on imports of gold, then it will be detrimental to the gold. In another large gold consumption in China, the Chinese market at present the gold price premium in 2 to 3 U. S. dollars / ounce nearby, in gold gradually stabilized, the buying has stable.
Posted on: Tue, 18 Nov 2014 06:50:07 +0000