Mar 7, 2013
Commodities Brief – Silver breaches 29.00, gold fortified by support as central banks remain in focus
Gold prices traded marginally higher overnight as the news out of the BoJ has given the yellow metal a definitely neutral look ahead of several key events today. With the continuation of asset purchases in Japan intact, investors are now looking ahead to the ECB interest rate decision later today along with several key US indicators that could rekindle the safe-haven status for gold should number prove to be unsatisfactory. In these moments gold is trading between its 20 and 50-day SMA, the former providing temporary support as the price settles at USD $1583.99 per oz.
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