Gold Selling Could Dry Up Soon.

Gold for June delivery fell $5.40, to settle at $1,288.50 an ounce on the Comex division of the New York Mercantile Exchange. That was the lowest settlement for a most -  ctive contract since April 3. May silver also took a hit, losing nearly 25 cents to $19.35 an ounce. 

Gold prices had brea ched the 200 - day moving average around $1,299 right before the long weekend, which may have prompted some technical - based selling.The 100 - day moving average around $1277.0 could be the next target, and a close under that level could send gold even lower. But the producer- merchant segment of Comex participants are now showing their lowest short position in eight years, which indicates that selling could dry up soon. 

Traders kept watch on the Ukraine - Russia conflict. The international organization tasked with helping to defuse the crisis intends to work on bolstering its ranks with more monitors. 


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