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23 Sep 2013
Red Asian Monday for metals
FXstreet.com (Chicago) – Gold continues extending the bearish trendline that started last October 2012. Trading around the $1,325.70/oz zone, the metal reflects market participants’ perceptions amid German elections and the post-reaction to the FOMC’s economic outlook.
Metals recap
Offered at $1,325.70, gold retraces 0.51% and prints lows at $1,323.60 and highs at $1,330.80. Silver trades at $21.78 (38.2% Fibonacci level since last month’s rally), declining 0.68% and printing lows at $21.76 and highs at $21.97. Platinum loses 0.34% so far and trades at $1,427.70 with lows at $1,427.50 and highs at $1,436.10. Copper is also down 0.93% and trades at $3.2890 with session lows at $3.2885 and highs at $3.3120. Finally, palladium is down 0.35% to now be offered at $719.40 registering lows at $718.90 and highs at $722.85.
Metals recap
Offered at $1,325.70, gold retraces 0.51% and prints lows at $1,323.60 and highs at $1,330.80. Silver trades at $21.78 (38.2% Fibonacci level since last month’s rally), declining 0.68% and printing lows at $21.76 and highs at $21.97. Platinum loses 0.34% so far and trades at $1,427.70 with lows at $1,427.50 and highs at $1,436.10. Copper is also down 0.93% and trades at $3.2890 with session lows at $3.2885 and highs at $3.3120. Finally, palladium is down 0.35% to now be offered at $719.40 registering lows at $718.90 and highs at $722.85.