Comex Gold helped by Broke of Blasts in Mumbai
0 Comments for:
Comex gold remains steadily higher after news broke of blasts on Mumbai's rail network that killed at least 100 people. Aug gold is up $8.90 at $635 an ounce.
(Gold) is sensitive to geopolitical events and that has certainly added support since gold was already up when the news hit.
Gold futures do not have a lot to identify with in the market lately except dollar weakness. The dollar has moved off session lows but remains largely flat on the day while the euro is higher. Traders say Aug gold needs to break through the $641-$642 an ounce level in order to make further upside gains. On the downside, support is seen at $621/618 and $615/607 an ounce.
0 Comments:
Post a Comment
<< Home