Precious Metals Challenge Resistance Levels as Physical Market Remains Tight
Mark O’Byrne submits: Gold: Risk appetite increased yesterday as the first day of the new month saw equity buyers return and bond prices fall. Gold and silver prices fell marginally but remained near multi week highs and in gold’s case very near the all time record high (nominally). European equity markets are a bit more tentative this morning and the pound and the dollar have come under selling pressure. Markets await the ECB decision and US jobs data and any negative surprises could be the catalyst for gold reaching new record highs (record daily high close is $1,258/oz and record inter day high is $1,265/oz). Gold is only a whisker away, just over 1%, from the record high and yet sentiment remains calm and media coverage muted. »
This entry was posted on Thursday, September 2nd, 2010 at 6:26 am and is filed under Silver Dealers . You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.