Gold Comex Support at $1063.20 and Upside Resistance at $1260.80

Gold Comex Support at $1063.20 and Upside Resistance at $1260.80

Gold Silver Reports ~ Gold ticked up on Friday, extending gains from the previous two sessions, in spite of solid U.S. inflation data which bolstered hawkish arguments for accelerated monetary policy normalization by the Federal Reserve this year.

On the Comex division of the New York Mercantile Exchange, gold for April delivery wavered between $1,220 and $1,235.20 an ounce, before settling at $1,231.20, up 4.90 or 0.40% on the day. For the week, gold fell slightly by less than $3 an ounce, halting a four-week streak of weekly gains. The precious metal still remains near 12-months highs reached late last week when it surged above $1,260 an ounce. Since the start of the year, gold has surged by more than 15% or $50 an ounce and is on pace for one of its strongest quarters in 30 years.

Gold likely gained support at $1,063.20, the low from January 4 and was met with resistance at $1,260.80, the high from Feb. 11. ~ Neal Bhai Reports

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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

1 thought on “Gold Comex Support at $1063.20 and Upside Resistance at $1260.80”

  1. खाने के तेलों को छोड़कर आज एग्री कमोडिटी में चौतरफा गिरावट आई है। एनसीडीईएक्स पर चीनी 1.5 फीसदी गिरकर 3080 रुपये पर आ गई है। वहीं चना, जौ और सरसों पर नई फसल का असर अभी से दिखने लगा है। अगले महीने से इनकी नई फसल की आवक शुरू हो जाएगी। एनसीडीईएक्स पर चना 1.3 फीसदी लुढ़ककर 4240 रुपये पर आ गया है। जौ का भाव 0.1 फीसदी गिरकर 1390 रुपये के नीचे नजर आ रहा है। सरसों 0.75 फीसदी से ज्यादा की गिरावट के साथ 4000 रुपये के नीचे आ गया है।

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