Wednesday, 7 September 2016

Weak Data, USD Lift Gold And Silver

Both gold and silver were on the move higher Tuesday, with some tailwinds from a considerably weaker USD, precipitated mainly by weaker-than-expected ECO Data from the ISM Non-Manufacturing data on the heels of Friday's disappointing jobs report. 
For details visit us
Give a Missed Call at "989-33-582-33"
Notice that gold is approaching a test of its August resistance line, now in the vicinity of $1,346/47, which if hurdled, should trigger upside continuation that tests the July resistance, now in the area of $1,355.  

Meanwhile, relatively strong silver continues to lead the charge near term and points to a challenge of its July-August resistance line at $20.30 next.

1 comment: