Renewed Investor
Fly on the Wall
- Messages
- 38
- Reaction score
- 0
- Points
- 0
"Gold, Stocks and Euro All Down after China Manufacturing News, Bullion Refiners "Stocking Up" for Europe but Concerns Over Liquidity "Cap Upside" for Gold
PRICES TO buy gold bullion on the wholesale market dropped to $1630 an ounce during Monday morning's London session – a 2.3% drop from where they started the month – while stock markets and industrial commodities also traded lower following the release of preliminary Chinese manufacturing data.
"Gold remains in a short-term bear channel," say technical analysts at bullion bank Scotia Mocatta.
"We would expect a test of support from the long-term uptrend...[which] comes in around $1600.""
Link
PRICES TO buy gold bullion on the wholesale market dropped to $1630 an ounce during Monday morning's London session – a 2.3% drop from where they started the month – while stock markets and industrial commodities also traded lower following the release of preliminary Chinese manufacturing data.
"Gold remains in a short-term bear channel," say technical analysts at bullion bank Scotia Mocatta.
"We would expect a test of support from the long-term uptrend...[which] comes in around $1600.""
Link