Gold futures traded near its lowest level steady at over six
weeks in the previous session on Monday, where he continued uncertainty
surrounding the financial situation in Spain and Greece pressure on
market sentiment.
On the Comex division of the New York Mercantile Exchange, gold futures for December delivery 722.85 at $ 1 per ounce during European morning trade, shedding 0.1%.
Prices traded in a narrow range at 1, 727.95 dollars an ounce, the highest price for the day and the lowest price for a session at 718.65, $ 1 per ounce, the lowest price since Sept. 7.
Gold prices were likely to find support at 688.85, 1 ounce, the lowest price since Sept. 7 and resistance at 754.95, 1, dollars per ounce, the highest price since Oct. 17.
Increased majority center-right Popular Party of Prime Minister Mariano Rajoy in his home town Galisseea on Sunday, which still obstacles to request financial assistance from Spain’s partners in the euro zone.
The Prime Minister said Rajoy said on Friday he had not yet decided whether he will ask for help.
The comments came at the conclusion of a European Union summit, which lasted two days, which ended without any indication on when Spain will request a formal rescue plan and when Greece will receive the next tranche of aid.
European Union leaders agreed on a time frame for the establishment of the European banking supervisor, which would allow the region’s rescue fund to give direct capital to banks that are struggling to help the deficit.
You may see n precious metals more losses in the near term after failing to break the price of 1, 800 dollars per ounce level earlier this month.
Gold futures rose to the highest level in 11 months at $ 1 798.05 an ounce on October 5, boosted by expectations that the current policy-makers all over the world will launch more incentives to support the weak global economy.
Markets remain quiet ahead of the release later this week U.S. data including monthly new home sales, and durable goods orders in the third quarter GDP numbers.
Elsewhere in the Comex silver rose, for December delivery rose 0.2% to trade at 32.16 dollars per ounce, while copper fell for December delivery rose 0.15% to trade at $ 3.633 a pound.
On the Comex division of the New York Mercantile Exchange, gold futures for December delivery 722.85 at $ 1 per ounce during European morning trade, shedding 0.1%.
Prices traded in a narrow range at 1, 727.95 dollars an ounce, the highest price for the day and the lowest price for a session at 718.65, $ 1 per ounce, the lowest price since Sept. 7.
Gold prices were likely to find support at 688.85, 1 ounce, the lowest price since Sept. 7 and resistance at 754.95, 1, dollars per ounce, the highest price since Oct. 17.
Increased majority center-right Popular Party of Prime Minister Mariano Rajoy in his home town Galisseea on Sunday, which still obstacles to request financial assistance from Spain’s partners in the euro zone.
The Prime Minister said Rajoy said on Friday he had not yet decided whether he will ask for help.
The comments came at the conclusion of a European Union summit, which lasted two days, which ended without any indication on when Spain will request a formal rescue plan and when Greece will receive the next tranche of aid.
European Union leaders agreed on a time frame for the establishment of the European banking supervisor, which would allow the region’s rescue fund to give direct capital to banks that are struggling to help the deficit.
You may see n precious metals more losses in the near term after failing to break the price of 1, 800 dollars per ounce level earlier this month.
Gold futures rose to the highest level in 11 months at $ 1 798.05 an ounce on October 5, boosted by expectations that the current policy-makers all over the world will launch more incentives to support the weak global economy.
Markets remain quiet ahead of the release later this week U.S. data including monthly new home sales, and durable goods orders in the third quarter GDP numbers.
Elsewhere in the Comex silver rose, for December delivery rose 0.2% to trade at 32.16 dollars per ounce, while copper fell for December delivery rose 0.15% to trade at $ 3.633 a pound.
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