Gold futures traded lower on Friday, a day after recording the strongest daily surge for the month
Rising US Treasury yields and an uptrend in the greenback exerted pressure on [...]
Trading news
Gold falls but remains high
Gold declined even lower today, but remains close to its two weeks high level, following the FED's recent policy meeting minutes that always had a considerable impact on the U.S. dollar.
Gold's December futures to $1,353.65
On the New York Mercantile Exchange, Comex division, December's gold futures traded to $1,353.65, thus being 0.26% lower, not far though from the level of $1,355.75.
During Thursday's session, December's contract ended at $1,357.20 and was 0.62% higher.
Furthermore, the gold futures will likely find strong resistance and support at Wednesday's levels, the $1,360.80 and the $1,338.60 respectively.
Moreover, the precious metal gained value, amid Thursday's data where the initial jobless claims dropped to 262,000, thus recording a declination of 4,000.
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Friday, 19 Aug, 2016 / 9:28
Source : https://www.argusfx.com/en/research-education/market-analysis/news/gold-falls-but-remains-high
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