24 Jun 2013
Commodities Brief – Gold situated below 1300, silver maintains bearish path
FXstreet.com (New York) - Commodity prices have been roiled again and unable to mount a recovery as Fed and Chinese concerns continue to prevent any type of stability Monday.
Gold settles below 1300 level
Gold recently bounced strongly within US session, to retest the 1290.00 intraday resistance level/first target, and activated a bearish scenario that could ultimately threaten to drop the yellow metal lower. A break with steady trading above 1290.00 will usher in an extension of the bounce probably towards 1302.00 level though not much higher in the neat-term. In these moments, gold has settled at USD $1284.72 per oz. Monday.
Silver continues to fall
The price of the white metal notched a fresh attempt towards last weeks low at 19.38, where the overall bias remains firmly bearish. Ultimately, holding below 20.13 (previous broken low and key resistance) keeps the bearish outlook intact. At the current levels, the price of silver has now moved to lower to USD $1959. per oz. during US trading.
WTI crude enters bearish scenario
WTI crude oil rebounded slightly during the European session, only to touch the entry level at 93.70 and thus activating a bearish scenario, which remains valid so long as the 94.40 level is intact. At the time of writing, WTI crude prices have settled in the region of USD $93.63/bbl during US trading.
Gold settles below 1300 level
Gold recently bounced strongly within US session, to retest the 1290.00 intraday resistance level/first target, and activated a bearish scenario that could ultimately threaten to drop the yellow metal lower. A break with steady trading above 1290.00 will usher in an extension of the bounce probably towards 1302.00 level though not much higher in the neat-term. In these moments, gold has settled at USD $1284.72 per oz. Monday.
Silver continues to fall
The price of the white metal notched a fresh attempt towards last weeks low at 19.38, where the overall bias remains firmly bearish. Ultimately, holding below 20.13 (previous broken low and key resistance) keeps the bearish outlook intact. At the current levels, the price of silver has now moved to lower to USD $1959. per oz. during US trading.
WTI crude enters bearish scenario
WTI crude oil rebounded slightly during the European session, only to touch the entry level at 93.70 and thus activating a bearish scenario, which remains valid so long as the 94.40 level is intact. At the time of writing, WTI crude prices have settled in the region of USD $93.63/bbl during US trading.