Dip towards $1,229 as a buying opportunity

The futures market’s positioning in precious metals remains largely unchanged from last week. For gold, investor believe that the market remains well placed to support a higher gold price. COMEX gold has seen the net long non-commercial position decline to 33.2% of OI, down from 34% the previous week. Current levels are below the average level of 36% over the past 12 months, and spec length does not look overextended.

While most of investor continue to favour a move higher in gold, the metal may test lower yet again before a gold price above $1,250 becomes sustainable. It may see selling in the physical market, and resistance remains in place when gold moves above $1,250.

Gold support is at $1,244 and $1,229, resistance at $1,265 and $1,274. We view a dip towards $1,229 as a buying opportunity.


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Malaysia Gold Investment

I found Gold Investment in Malaysia is a vary good tools to make profit when the market is down. I also found that Gold Price go up and down more slower compare to share market so to make money in long term, Gold is the right tools. This blog is all about Malaysia Gold Info and the way to make profi

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