GOLD RECOVERS TO $ 1200 AMID HIGHER

To add comments, please log in or register
forextips
156
forextips  
Demand for the US treasury yields returned with the US dollar’s following hawkish comments from Fed Chair Yellen, knocking-off gold to the levels unseen since last Friday.

Gold drops sharply from near multi-week tops

Currently, gold drops -1.05% to 1199.30, recovering quickly from fresh five-day lows struck at $ 1197 last minutes. The overnight retreat in gold gained traction in the mid-Asian trades, after the Asian traders boosted bids for the US treasury yields at the expense of the non-interest paying gold, as they continue to digest Fed Chair Yellen’s hawkish remarks.

Our Recommendation:
SELL GOLD 1212 TARGETS 1202 1192 STOPLOSS 1223.
To add comments, please log in or register