Gold unchanged in restricted trade

Gold price technical analysis 17 - June, 2013

Gold futures was little changed . Confined to trade in a narrow range during the European morning hours on Thursday, as investors awaited the outcome of the meeting of the European Central Bank policy later today – …

On the Comex division of the New York Mercantile Exchange, has been trading gold futures for April delivery is trading at 678.45, 1 dollars per ounce during European morning trade, unchanged today.

Prices traded in a narrow range. $ 1676 USD / ounce for ounce, the lowest price for days and the highest price for the session when. $ 1681 USD/  Ounce ..
Of gold is likely to find support at $ 1653 USD/ ounce, the lowest price since January 28, and the near-term resistance at  $ 1, 685.65 USD/Ounce, the highest dollars per ounce, the highest price on Tuesday.

It was expected that the European Central Bank leaves interest rates unchanged at 0.75% on Thursday, while waiting for the market awaits remarks Mario Draghi, President of the Central Bank amid concern that can be expressed concerns about the impact of euro gains recently on the economic recovery of the region.

On Wednesday, said a German government spokesman said no assessment of the single currency and the exchange rate was not an appropriate way to increase competitiveness.

The comments came after French President Francois Hollande to targeting the exchange rate on Tuesday.

Elsewhere in the Comex, silver fell for March delivery rose 0.2% to trade at $ 1.81 an ounce while copper fell for March delivery rose 0.1% to trade at $ 0.743 a pound.

Copper traders predicted China’s trade figures due out on Friday for more clues on the health of the world’s largest consumer of copper.