Gold Price Technical Analysis
Gold has recently embraced formidable support, slightly at 1,760 following a considerable downfall from the seller congestion at 1,950.
Gold price down 2% following strong sentiment in service, manufacturing sector
A multi-year rise in sentiment in the manufacturing and service sector is pressuring gold lower as prices break below critical support. December gold futures last traded near session lows at $1,841.40 an ounce, down 1.6% on the day.
Gold Price
Gold Price edged lower on the first day of a new trading week and dropped to over one-week lows during the Asian session, albeit lacked any strong follow-through selling.
Decreasing Purchasing Power in Turkey, Pushes for ‘Syrian Gold’
The escalating price of gold in Turkey, in tandem with the global market and the decrease of purchasing power, has led to an influx of products from Syria.
Gold prices driving a rush to one of metal’s final frontiers
Step aside Canada, Australia and South Africa: West Africa is fast becoming the hottest ticket in gold mining. Producers and prospectors are pouring money into the region as gold prices rally and the industry at the southern tip of the continent keeps shrinking, Iran News quotes what Bloomberg wrote. While gold miners face a dearth […]