Wednesday, September 30, 2015

Gold fails to hold above $1130/Oz

FXStreet (Córdoba) - Gold price is falling for the third day in a row and continues to decline from $1157/Oz (Sept 24 high). After Wall Street opening bell the value of the ounce rose above $1130 and reached $1134 but failed to hold above $1130.

Currently it trades at $1128, back into negative territory, but still above Asian session lows that lie at $1123.75. The yellow metal continues to move with a bearish bias in the short term, approaching last week lows located at $1121.50.

Gold is falling despite a steady US dollar. Crude oil is rising 1.90% and stocks in Wall Street are posting mix results. The Dow Jones was unchanged around 16.000 points while the Nasdaq was falling 0.55%.
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