Johnkitty Posted August 12, 2010 Report Share Posted August 12, 2010 Precious metals gaining some recognition after rallying, albeit in very minimal increments for the past two weeks now after getting liquidated to $1,157 in gold. Gold has traded up to $1,208 and looks to be testing the resistance of the $1,215-$1,2020 area. What’s helping the precious metals right now is the weaker USD. The dollar traded near the weakest level in three months against the euro after a U.S. report showed companies hired fewer workers than forecast, signaling the labor-market recovery will be slow to take hold. The dollar traded at $1.3284 per euro from $1.3280, after touching $1.3334 on Aug. 6, the weakest level since May 3. Link to comment Share on other sites More sharing options...
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