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Gold Falls, USD Firms

Gold Falls, USD FirmsGold Falls, USD Firms

Gold fell on Wednesday finding little impetus from easing equities as the dollar rose to a four-month high on the back of better-than-expected US housing data, Reuters reported. The dollar firmed on Wednesday, as strong US data and rising expectations that the Bank of Japan will muster additional easing steps sent the dollar index to four-month highs. Spot gold fell 0.5% to $1,324.83 an ounce. It closed at $1,331.73 on Tuesday. US gold was down 0.5% at $1,325.60 an ounce. Spot gold is biased to fall to $1,313 per ounce after completing its consolidation within a small wedge, as per Reuters technical analyst Wang Tao.

 

Financialtribune.com