May 3, 2013
Commodities Brief – Precious metals edge higher ahead of Nonfarm Payrolls in US, crude trading at 200-day SMA
The price of gold continued its recovery back higher as this week caps another solid rebound off of April’s commodity catastrophe. Indeed, the yellow metal rebounded towards the 1478.00 resistance Friday, moving back into positive territory yet again. In particular, this area – i.e. the 1478.00-1520.00 levels – could provide a good medium-term sell, however patience in identifying a downside reversal through signs of weakness could prove to be a more effective strategy. Ahead of the Nonfarm Payroll data in the United States later today, the price of gold is now trading at USD $1476.32 per oz.
مزید پڑھیں
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