Back
14 Aug 2013
Gold rallies through resistance, 1345.00 eyed?
FXstreet.com (New York) - Precious metals jumped during the morning of US trading Wednesday, with gold making a notable surge above resistance.
Gold unable to breach 1345.00
Gold rebounded strongly Wednesday, moving past intraday resistance at 1325.00, which now confirms a move higher towards the top of the sideways range at 1345.00. Accordingly, it is preferred to wait for stability above 1325.00 resistance to confirm a move higher. At the time of writing, gold prices are trading at USD $1331.80 per oz. Wednesday.
Silver bearishness risk?
Silver moved higher during the US session, though spot prices remain below the key resistance at 22.00 level, and thus a bearish scenario is still valid below this critical barrier. The price of silver has now moved to USD $21.70 per oz. during US trading.
Gold unable to breach 1345.00
Gold rebounded strongly Wednesday, moving past intraday resistance at 1325.00, which now confirms a move higher towards the top of the sideways range at 1345.00. Accordingly, it is preferred to wait for stability above 1325.00 resistance to confirm a move higher. At the time of writing, gold prices are trading at USD $1331.80 per oz. Wednesday.
Silver bearishness risk?
Silver moved higher during the US session, though spot prices remain below the key resistance at 22.00 level, and thus a bearish scenario is still valid below this critical barrier. The price of silver has now moved to USD $21.70 per oz. during US trading.