Gold Price Update for Sept. 13 – Analysts Keep their Forecast Below $1330
Gold markets loosened a bit during Tuesday’s trading, as Wall Street analysts keep their estimates below the $1330 mark.
Commodities and investors are are at the moment treading water at the cellar of the gap from previous several sessions to get a bit of a bounce from current positions.
However, many investors are not comfortable purchasing gold until a break above the $1330 level occurs anew, so as of presstime, market observers are on the sidelines.
A breakdown below the $1320 mark has Wall Street anticipating for the $1300 mark again, so it is only a matter of allowing the market run its normal course asto which best path to trade.
Prices of the yellow metal slid lower during early trading as of Tuesday, edging through support which is now resistance near the ten-day moving average at 1,330.
Gold recovered during afternoon session, despite a risk on advance, capping the day above the open.
Stronger than projected inflation figures in the United Kingdom gave a boost to the precious metal’s prices. Gold has been subjected to pressure as volatility dropped following this weekend when reclusive nation North Korea failed in its latest nuclear test.