A weaker dollar has added to gold’s upward momentum

Friday’s disappointing US data flow, gave the gold bulls another reason to buy the metal, amid concerns that the US economy’s recovery might be faltering. The University of Michigan’s index of consumer confidence fell to 66.6 in September compared to consensus expectations of a rise to 70.0 from the previous month’s 68.9.

A weaker dollar has added to gold’s upward momentum this morning, although the $1,285 level continues to pose resistance. As highlighted last week, this resistance stems largely from the physical market and could keep gold range bound below $1,285 for a while.

Gold support is at $1,275 and $1,270. Resistance is at $1,285 and $1,290.


Related Posts Plugin for WordPress, Blogger...

KLSE Info Zone

About This Blog

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

Blog Malaysia


  © Free Blogger Templates 'Greenery' by Ourblogtemplates.com 2008

Back to TOP