Gold price today technical analysis 6-2-2013

Gold price technical analysis 17 - June, 2013

The pair of gold / U.S. dollar hit the  wall at $ 1685 USD/ Ounce and closed today at a price slightly less than the opening price.

The area of $ 1685 USD/Ounce a difficult area and has provided support and new resistance, since December 2012. As a result, the pair fell to the level of $ 1666 before recovering to the level of $ 1674.50 during the Asian trading session today. Softened the sharp rise in stock prices attractive gold as a safe asset, as the method of risk returned to the picture again.

The markets will focus on the European Central Bank (ECB) meeting on Thursday, and participants will focus on the market as well as evidence that the Chinese economy, which will appear on Friday.

Gold will find a hard resistance at $1690 USD/ Ounce of gold it is hard to be broken but might be by the end of the US dept crisis.