So
quite and less shining Gold is performing ahead of Holidays. A slight elevation was
seen in the afternoon towards $1135 level, but shortly afterwards followed a delicate
withdrawal back to $1130 area and current market price is $1131.99.
For the past week we may only conclude that the precious metal was stuck into a
humble consolidation. Since US presidential elections Gold has tumbled down and
set yearly low at $1123.00.
The economic calender is not loaded with enough significance that could trigger
sure direction for the precious metal today and ahead of the holidays it its
unlikely to witness something catching eyes.
On the daily chart it is seen that gold prices continue to hold above $1100.00
level. The sentiment yet remains in downward development and well below the
sloping trend line. Technical readings are showing oversold condition and both
indications are displaying lack of momentum. As long they are caught in the negative
territory, the situation is ruled by the bears.
Along with the upcoming holidays Gold is feeling to trills to move outside the
established range.
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