2011-03-11

Some profit-taking by short-term investors continues to weigh on Gold

Some profit-taking by short-term investors continues to weigh on Gold. Nevertheless, light buying is evident on dips (especially in gold) which is keeping prices in a relatively tight range. With no news on developments in the MENA region most investors are waiting on the sidelines. There has been no change in physical market activity, which remains lacklustre even though prices have moved lower.

However, given the poor performance in equities across the globe, it is safe to assume that risk aversion is still in play. As such, we still see the potential for upside in precious metals (especially gold and silver) as long as the situation in Libya remains unresolved.

Gold support is at $1,424 and $1,417. Resistance is at $1,439 and $1,445

0 comments:

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

BlogMalaysia.com

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

Back to TOP