08 Aug 2012 Last updated at 02:42:15 GMT
Comex Gold quietly hovering just below 100-day average
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NEW YORK (Commodity Online): Comex gold is quietly trading just below its 100-day moving average as it awaits a catalyst, said Triland Metals in a commodity research note.
"Another quiet and very low-volume day for gold, as the daily range continues to constrict," they continued.
"For now, the 100-day moving average for the Comex December contract is at $1,619 and this is providing resistance. Above this the major resistance remains between $1,635 and $1,640. Support (lies) between $1,585 and $1,590," Triland Metals concluded.
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