Gold is typically seen as a good bet at times of financial and economic uncertainty, but bids have failed to emerge in a robust way as expectations of a U.S. interest rate rise this year are weighing on the market.
The metal's technical picture was also bearish , ScotiaMocatta analysts said.
Gold appears increasingly vulnerable to a break towards a recent low near $1,160 reached last month, they said.
So, Gold, as other markets just waits for Fed statement. On daily chart we just've got inside session. Market is coiling below our major resistance 1192-1195.
The metal's technical picture was also bearish , ScotiaMocatta analysts said.
Gold appears increasingly vulnerable to a break towards a recent low near $1,160 reached last month, they said.
So, Gold, as other markets just waits for Fed statement. On daily chart we just've got inside session. Market is coiling below our major resistance 1192-1195.
On 4-hour chart market keeps chances on butterfly "buy" pattern that could lead us directly to 1150 area
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YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
Do your own due diligence.
No one knows tomorrow's price or circumstance.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
King Regards