Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword
Like this
1Activity
0 of .
Results for:
No results containing your search query
P. 1
MTECHTIP1

MTECHTIP1

Ratings: (0)|Views: 2|Likes:
Published by MtechTips
MTECHTIPS;-Gold gains 1% ahead of Italy vote results; Bernanke testimony eyed


Gold futures were up sharply during U.S. morning trade on Monday, moving further off last week’s seven-month low as the U.S. dollar came under pressure amid optimism that economic reforms in Italy would not be derailed by election results.On the Comex division of the New York Mercantile Exchange, gold futures for April delivery traded at USD1,588.80 a troy ounce during U.S. morning trade, up 1% on the day.Prices rose by as much as 1.3% earlier in the session to hit a daily high of USD1,593.80 a troy ounce. Gold futures fell to a seven-month low of USD1,554.80 a troy ounce on February 21.
Gold prices were likely to find support at USD1,554.80 a troy ounce, the low from February 21 and resistance at USD1,609.00, the high from February 20.Market sentiment was buoyed by hopes that a pro-reform government would emerge following general elections. Meanwhile, speculation over a low voter turnout in northern Italy help ease concerns over a strong election performance by former Prime Minister Silvio Berlusconi. Exit polls were due to be published after voting closed at 3pm local time, with final results expected Tuesday.The news prompted investors to move in to riskier assets such as the euro and industrial commodities and shun safe-haven assets like the U.S. dollar and Treasuries.
The dollar index, which tracks the performance of the greenback against a basket of six other major currencies, was down 0.35% to trade at 81.27.


WWW.MTECHTIPS.COM
07489294118/119
MTECHTIPS;-Gold gains 1% ahead of Italy vote results; Bernanke testimony eyed


Gold futures were up sharply during U.S. morning trade on Monday, moving further off last week’s seven-month low as the U.S. dollar came under pressure amid optimism that economic reforms in Italy would not be derailed by election results.On the Comex division of the New York Mercantile Exchange, gold futures for April delivery traded at USD1,588.80 a troy ounce during U.S. morning trade, up 1% on the day.Prices rose by as much as 1.3% earlier in the session to hit a daily high of USD1,593.80 a troy ounce. Gold futures fell to a seven-month low of USD1,554.80 a troy ounce on February 21.
Gold prices were likely to find support at USD1,554.80 a troy ounce, the low from February 21 and resistance at USD1,609.00, the high from February 20.Market sentiment was buoyed by hopes that a pro-reform government would emerge following general elections. Meanwhile, speculation over a low voter turnout in northern Italy help ease concerns over a strong election performance by former Prime Minister Silvio Berlusconi. Exit polls were due to be published after voting closed at 3pm local time, with final results expected Tuesday.The news prompted investors to move in to riskier assets such as the euro and industrial commodities and shun safe-haven assets like the U.S. dollar and Treasuries.
The dollar index, which tracks the performance of the greenback against a basket of six other major currencies, was down 0.35% to trade at 81.27.


WWW.MTECHTIPS.COM
07489294118/119

More info:

Categories:Types, Research
Published by: MtechTips on Feb 25, 2013
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as DOCX, PDF, TXT or read online from Scribd
See more
See less

02/25/2013

pdf

text

original

 
 
MTECHTIPS;-Gold gains 1% ahead of Italy vote results;Bernanke testimony eyed
Gold futures were up sharply during U.S. morning trade on Monday, moving
further off last week’s
seven-month low as the U.S. dollar came under pressureamid optimism that economic reforms in Italy would not be derailed by electionresults.On the Comex division of the New York Mercantile Exchange, goldfutures for April delivery traded at USD1,588.80 a troy ounce during U.S.morning trade, up 1% on the day.Prices rose by as much as 1.3% earlier in thesession to hit a daily high of USD1,593.80 a troy ounce. Gold futures fell to aseven-month low of USD1,554.80 a troy ounce on February 21.Gold prices were likely to find support at USD1,554.80 a troy ounce, the lowfrom February 21 and resistance at USD1,609.00, the high from February20.Market sentiment was buoyed by hopes that a pro-reform governmentwould emerge following general elections. Meanwhile, speculation over a lowvoter turnout in northern Italy help ease concerns over a strong electionperformance by former Prime Minister Silvio Berlusconi. Exit polls were due tobe published after voting closed at 3pm local time, with final results expectedTuesday.The news prompted investors to move in to riskier assets such as theeuro and industrial commodities and shun safe-haven assets like the U.S. dollarand Treasuries.The dollar index, which tracks the performance of the greenback against abasket of six other major currencies, was down 0.35% to trade at 81.27.

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->