The gold contract for June delivery has been trading within a tight range around $1238.00 a troy ounce since open, after leading to new all-time highs above $1245 just a session prior. Currently the yellow metal trades at $1237.70, just below the opening price.
Gold peaked at a fresh high yesterday on continued safe-haven appeal due to the failure of the EU/IMF bailout package to fully assuage investor’s euro zone debt worries. Today jitters seem to be easing slightly as equity markets are on the rise, however still investors are not parting from safer alternatives like gold and US treasuries due to the need for diversification.
Oil N’ Gold places the next resistance levels at $1252.47 and $1261.83. On the downside , the next support levels are listed at $1230.47 and $1217.83.
Gold peaked at a fresh high yesterday on continued safe-haven appeal due to the failure of the EU/IMF bailout package to fully assuage investor’s euro zone debt worries. Today jitters seem to be easing slightly as equity markets are on the rise, however still investors are not parting from safer alternatives like gold and US treasuries due to the need for diversification.
Oil N’ Gold places the next resistance levels at $1252.47 and $1261.83. On the downside , the next support levels are listed at $1230.47 and $1217.83.
Stock futures point to losses on Wall Street
US stock futures are signaling modest losses on Wall Street, as jitters over euro zone debt have not relinquished fully. The NASDAQ is off the most at -0.37%, while the S&P and DOW trail close at -0.23% and -0.11% respectively.
Equity markets closed out higher yesterday after Spain announced fresh austerity measures in an effort to keep debt speculators at by. The move eased fears over euro zone sovereign debt, however investors seem to remain skeptical on the gargantuan EU/IMF bailout package which focuses on the issue of liquidity, but seems to fall short when it comes to solvency.
Today investors will be on the lookout for first quarter corporate earnings by Nordstrom, Kohls, Select Medical Corporation and more. Furthermore, the US Department of Labor will be releasing initial and continuing jobless claims which should give further signals to the robustness of a US recovery.
Equity markets closed out higher yesterday after Spain announced fresh austerity measures in an effort to keep debt speculators at by. The move eased fears over euro zone sovereign debt, however investors seem to remain skeptical on the gargantuan EU/IMF bailout package which focuses on the issue of liquidity, but seems to fall short when it comes to solvency.
Today investors will be on the lookout for first quarter corporate earnings by Nordstrom, Kohls, Select Medical Corporation and more. Furthermore, the US Department of Labor will be releasing initial and continuing jobless claims which should give further signals to the robustness of a US recovery.