Latest comment from gold trader Mitsui:
Gold moved in a relatively featureless $647.40-$652.50 range during NY, taking direction from equities & the weaker crude prices. Activity picked up after the close on Access as the Dow continued its slide with gold trading down to this morning's $643 level as a consequence. Attention will be on today's moves in the Nikkei, Shanghai Composite & the domestic All Ords, with any further declines expected to weigh on gold. Tocom is close to limit down, restricting the impact of this mornings follow through selling.
If gold can hold its ground in the current clean out then its fundamentals still support a test of its next resistance at $665. inthe short term, support currently sits on the $635 trend line & 100-day moving average.
The Bundesbank announced they will only sell 8 tonnes of gold this year under their 120 tonne entitlement, proving further support to gold's supply & demand dynamics.
gold price
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Last
0.4¢ |
Change
0.000(0.00%) |
Mkt cap ! $12M | |||
| Open | High | Low | Value | Volume |
| 0.4¢ | 0.4¢ | 0.4¢ | $2.811K | 702.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 18 | 13668904 | 0.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.5¢ | 1997361 | 7 |
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| Last trade - 10.02am 02/08/2024 (20 minute delay) ? |
| CTO (ASX) Chart |