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6 Sep 2013
Gold prices approach 1400 on weak NFP, Russian bravado in Syria
FXstreet.com (Lisbon) - Precious metals continued finally experienced a move higher Friday, after back-to-back days of weakness.
Gold targets jump over 1400
Gold prices surged Friday, helping alleviate a multi-day easing that has since relinquished the recent rally in the yellow metal. With the sour results of NFP in the US, gold price look to target 1400.00, a break of which could lead to 1417.00 and 1433.00. At the time of writing, gold prices are trading at USD $1386.92 per oz. Friday.
Silver eyes downside
Silver remained under pressure Friday, helped only by the recent advent of weak US data, given the approach of the 23.05 support level earlier today. Despite the rise, this region remains in focus, a break below this support should clear the way for further downside. The bearish scenario remains favored, so long as below 23.60-23.65, a break back above 23.65 will reverse the bias to bullish. The price of silver has now moved to USD $23.81 per oz. during US trading.
Gold targets jump over 1400
Gold prices surged Friday, helping alleviate a multi-day easing that has since relinquished the recent rally in the yellow metal. With the sour results of NFP in the US, gold price look to target 1400.00, a break of which could lead to 1417.00 and 1433.00. At the time of writing, gold prices are trading at USD $1386.92 per oz. Friday.
Silver eyes downside
Silver remained under pressure Friday, helped only by the recent advent of weak US data, given the approach of the 23.05 support level earlier today. Despite the rise, this region remains in focus, a break below this support should clear the way for further downside. The bearish scenario remains favored, so long as below 23.60-23.65, a break back above 23.65 will reverse the bias to bullish. The price of silver has now moved to USD $23.81 per oz. during US trading.