Senior Technical Analyst Jim Wyckoff prepares investors with an overview of how the markets opened and closed. What moved metal prices? How do the technicals look? By looking at important developments
- Gold and silver prices are trading near unchanged in midday U.S. trading Tuesday. Neither the bulls nor the bears want to be too aggressive as the Fed's FOMC meeting has begun and its conclusion comes in just over 24 hours. December gold was last up $0.60 at $1,954.00 and December silver was down $0.083 at $23.415.
U.S. stock indexes are lower at midday, pressured by the potential of the auto workers strike to damage the U.S. economy, as well as rising energy prices possibly denting consumer confidence. Technically, December gold futures bears have the firm overall near-term technical advantage. A four-month-old downtrend is in place on the daily bar chart. Bulls' next upside price objective is to produce a close above solid resistance at the September high of $1,980.20. Bears' next near-term downside price objective is pushing futures prices below solid technical support at the August low of $1,913.60. First resistance is seen at today's high of $1,958.90 and then at $1,965.00.
France Dernières Nouvelles, France Actualités
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