Gold was little active overnight, hovering on both sides of the $662 level. In Europe, spot climbed higher. The high of $665.10 was eventually reached but technical selling did not let the metal to sustain that level and prices eased to fix at $663.50.
Gold was traded higher during the electronic trading due to good buying but prices came off when Tocom opened. During the early European hours, except at the fixing time where it reached the high of $662.80, gold pared all the gains and went gradually down.
Gold was fairly quiet on Tocom today, trading within a narrow $657/659.50. During the early European hours, weak prices attracted physical buyers back, while firm oil prices and steady base metals were supportive for the precious metal.
Gold drifted lower after Tuesday’s close. The Tocom session was extremely quiet overnight with very small volume traded within a dollar range. In Europe, the precious metal remained relatively firmly above the $670 level during the first couple of hours, but dipped below it before the first London fix of $670.90.
Gold barely moved overnight and the market was quiet during thewhole Asian session. As soon as London market opened the precious metal did two attempts to breach the $670 resistance but failed to hold above this level and tumbled towards the $665 critical limit.
Gold had a narrow 2 dollars range overnight, with selling pressure above $675 and physical buying on the dips below $672/673. Prices eventually hit the high of $674.70 and settled near there.
Gold weakened after the close of the Comex session Thursday and opened slightly lower on Tocom. Long liquidation pushed the spot down to $665.00 first support level, which was sustained during the Far East session.
Gold did not move after Wednesday’s NY close and spent a fairly quiet Far East session. Tocom saw the precious metal trading either side of $680 to finally settle on the lows under selling pressure. In Europe the yellow metal hit the high of $680.20 before easing to fix at $677.85 on the first London fix, down $8.65 from the previous AM one.
Gold gained some ground after Tuesday’s close of around $685.00, but remained very subdued in Asia. During the early European hours the precious metal remained fairly quiet, trading within a narrow $685-687 range and remained steady.
Gold came under selling pressure prior to Tocom opening, which continued to the session’s low of just above $687. The yellow metal then recovered on the back of weaker US dollar, but profit taking around $689 kept capping the upside.
