At the end of the last week gold was in two months high just above $1320 and now its price fell slightly. For the first time in two weeks it moved back through the key $1275 level. It was also able to break through the $1300 level too.
Over the last few months the $1275 level has established itself as a level of support. Gold has resistance around $1400 and is likely to play a role again should gold move up higher.
Gold was little changed at $1,318.04 an ounce by after rising to $1,325.90 on Tuesday, its strongest since April 15.
Silver dipped to $20.86 an ounce. It had rallied to $21.14 an ounce on Tuesday - its highest since March 18.
Singapore wants to announce the launch of a gold futures contract on Wednesday.
At the end of the last week gold was in two months high just above $1320 and now its price fell slightly. For the first time in two weeks it moved back through the key $1275 level. It was also able to break through the $1300 level too.
Over the last few months the $1275 level has established itself as a level of support. Gold has resistance around $1400 and is likely to play a role again should gold move up higher.
Gold was little changed at $1,318.04 an ounce by after rising to $1,325.90 on Tuesday, its strongest since April 15.
Silver dipped to $20.86 an ounce. It had rallied to $21.14 an ounce on Tuesday - its highest since March 18.
Singapore wants to announce the launch of a gold futures contract on Wednesday.
During the early hours of the Asian trading session on Wednesday, Gold is just starting to ease away from its small trading range around $1317 after running into resistance around $1320 at the end of last week. Current range: trading just below $1320 around $1315.
