Comex Gold quietly hovering just below 100-day average
Gold | 2012-08-08 02:42:15 | By Paul Ploumis
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.
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.