Gold In Tight Range; $1,700/Oz N/T Target - BarCap
Gold is trading in a narrow range in Asia as
investors remain cautious and await the next cue from the euro zone. Spot gold
is at $1,642.60 a troy ounce, down 40 cents from its previous close; the yellow
metal has traded no higher than $1,644.60/oz and no lower than $1,640/oz.
Technical analysis from Barclays Capital says a "decisive break above $1,642/oz
in gold would signal further upside toward our next targets near $1,700/oz."
Gold last traded above $1,700/oz on Dec. 12. Later Thursday, gold could take
direction from a European Central Bank policy
meeting
No comments:
Post a Comment