Gold struggles to break $1,700, US fiscal talks eyed
Reuters: Singapore, Dec 18 2012, 10:05 IST
hit earlier in the month.
Spot gold was little changed at $1,699.14 an ounce by 0217 GMT. U.S. gold edged up 0.2 percent to $1,700.70.
Reuters market analyst Wang Tao said charts suggested spot gold is expected to rise to resistance at $1,711 per ounce, a break above which would open the way towards $1,717.
Asia's bullion buyers were also reluctant to jump into the market as prices have been stuck in a narrow range in the past few days.
"There is some light buying but it is not on the same level as what we saw last year or in the year before," said a Singapore-based dealer, adding that many market participants have already gone on holiday. |
Previous Story Sensex up over 74 points in early trade ahead of RBI policy Next Story Global Markets: Asian shares inch higher on 'fiscal cliff' hopes
Reader's Comments| Post a Comment
Be the first to comment.
