Gold trading at support level
This week gold has reached the lower end of its current range. The news from the currency market is that real money dollar buyers have only just started to react to the recent weakness in EURUSD. Saxo's head of commodity strategy Ole Hansen says that whether this will translate into even more gold weakness or not will depend largely on this Friday's US job report (to be released tonight at 00:30 am AEST Australian time) . Mr. Hansen says The stronger dollar has so far mostly translated into a higher XAUEUR, with XAUUSD finding some support at the uptrend from July. To read more visit: (VIEW LINK)
Saxo Capital Markets (Australia) Pty Ltd is a wholly owned subsidiary of Saxo Bank A/S, a global online trading platform specialist. We enable investors the ability to trade FX, CFDs, Stocks, Futures & other derivatives from one account....
No areas of expertise