Technical selling affect Gold price

Gold price technical analysis 17 - June, 2013

Technical selling affect Gold price, in which gold price in the market watched unexpected drop, to return back for the average of the last two weeks, we watched a harsh technical selling to makes the gold bleed 1.50% in the global markets.

The global markets watched a decline in Oil price, and the Us dollar watched a slight decline followed by optimism for the US economy, the issue which affected investors to sell gold and to buy US dollar.

gold price lost the balance today after excessive selling supported by  the investors in North America, Gold price recorded in the Comex market $ 1567.50 USD/Ounce of gold.

we could watch a rise in Gold price in the trading of tomorrow and the buyers expected to be from Asia, we will watch a down movement in Gold price until the end of the day.

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