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22 Jan 2015
Gold stable ahead of Draghi’s speech – MP
FXStreet (Barcelona) - Kenny Fisher, Currency Analyst at MarketPulse, mentions that Gold trades stable ahead of the ECB conference, with the current range being 1275-1300.
Key Quotes
“The metal is in a holding pattern as the markets await a likely QE announcement from the ECB later in the day.”
“Gold has taken a breather from its impressive run as it trades close to the $1300 level. Gold has been a winner from the recent volatility in the currency markets, as investors have looked to gold as a safe haven in recent weeks. The metal has posted strong gains since the SNB announcement last Thursday, when the SNB suddenly abandoned its cap that set EUR/CHF at 1.20, sending shock waves across global markets”
“XAU/USD edged higher in the Asian session. The pair is unchanged in the European session.”
“On the downside, 1275 has some breathing room as the pair has moved higher. 1255 is next.”
“On the upside, 1300 is under strong pressure. Will the pair break through during the day? 1322 is stronger.”
“Current range: 1275 to 1300”
Key Quotes
“The metal is in a holding pattern as the markets await a likely QE announcement from the ECB later in the day.”
“Gold has taken a breather from its impressive run as it trades close to the $1300 level. Gold has been a winner from the recent volatility in the currency markets, as investors have looked to gold as a safe haven in recent weeks. The metal has posted strong gains since the SNB announcement last Thursday, when the SNB suddenly abandoned its cap that set EUR/CHF at 1.20, sending shock waves across global markets”
“XAU/USD edged higher in the Asian session. The pair is unchanged in the European session.”
“On the downside, 1275 has some breathing room as the pair has moved higher. 1255 is next.”
“On the upside, 1300 is under strong pressure. Will the pair break through during the day? 1322 is stronger.”
“Current range: 1275 to 1300”