11 Jul 2013
Gold contained below key Fibo at $1270
FXstreet.com (Barcelona) - Amid a highly volatile environment surrounding latest FED Bernanke's dovish appearance, Gold is last trading at $1262 bids, off recent session and fresh 7-day highs at $1268.
The yellow metal is so far finding strong resistance at the key 38.2% Fibo retracement of last leg down in dailies from mid June highs shy of the $1400 mark, around the $1270 level, while Silver is last around the $19.5.
Oil is also moving higher last at $105.4, off recent fresh 14-month highs at $105.75, following a much lower EIA crude oil inventories figure, which shows demand is still strong.
The yellow metal is so far finding strong resistance at the key 38.2% Fibo retracement of last leg down in dailies from mid June highs shy of the $1400 mark, around the $1270 level, while Silver is last around the $19.5.
Oil is also moving higher last at $105.4, off recent fresh 14-month highs at $105.75, following a much lower EIA crude oil inventories figure, which shows demand is still strong.