Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

The Metals Report: February 14, 2012

Published 02/14/2012, 01:40 AM
Updated 01/01/2017, 02:20 AM
Gold Settles .40 Cents Lower … ($1724.90)

Today’s April Gold Futures contract traded a very tight and quiet range on light volume as traders and global investors remain skeptical on the Greek austerity plan. Late Friday afternoon we learned that the Greek leaders approved a new budget in order to receive a second rescue package. (see below)
:
By Antonis Galanopoulos and Natalie Weeks
     Feb. 10 (Bloomberg) -- Greek Prime Minister Lucas Papademos secured approval from his Cabinet to submit laws for new budget secured approval from his Cabinet to submit laws for a new budget secured approval from his Cabinet to submit laws for new budget measures designed to secure a second rescue package for the country, according to a government official today..      The official, who declined to be named, spoke to reporters in Athens at the end of the Cabinet meeting……

THIS NEWS SHOULD HAVE BEEN MUCH MORE “BULLISH FOR GOLD!
However, due to the demonstrations and rioting in the streets of Athens It is my opinion that traders and global investors are taking a wait and see approach before re-entering the Gold market.

Gold traders are also eyeing the Geo-political tensions in Iran, Egypt, and Syria….

ECONOMIC DATA 2/14

APRIL GOLD
RESISTANCE # 2………$1744.00
RESISTANCE # 1……..$1734.00
PIVOT………………..…. $1726.00
SUPPORT # 1………… $1717.00
SUPPORT # 2............$1708.00

MARCH SILVER
RESISTANCE # 2…… …$34.32
RESISTANCE # 1…….…$34.02
PIVOT……………………..$33.74
SUPPORT # 1…………..$33.43
SUPPORT # 2…………..$33.16


Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.