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MTECHTIPS:-Gold futures higher after Spain GDP, BoJ stimulus decision
Gold futures edged higher during European morning trade on Tuesday, after the Bank of Japan increased the size of its asset-purchase program, boosting the appeal of the precious metal.On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,714.65 a troy ounce during European morning trade, up 0.35% on the day.Prices held in a tight trading range of USD1,715.65 a troy ounce, the daily high and a session low of USD1,706.95 a troy ounce. Gold futures fell to a seven-week low of USD1,699.65 a troy ounce on October 24.Gold prices were likely to find support at USD1,688.85 a troy ounce, the low from September 7 and resistance at USD1,731.25, the high from October 22.Trading activity was expected to remain thin on Tuesday, as investors continued to monitor the trajectory of Hurricane Sandy, as it barrels along the U.S. East Coast. Markets in the U.S. were set to remain closed for a second day on Tuesday due to disruption caused by the superstorm.
Gold futures edged higher during European morning trade on Tuesday, after the Bank of Japan increased the size of its asset-purchase program, boosting the appeal of the precious metal.On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,714.65 a troy ounce during European morning trade, up 0.35% on the day.Prices held in a tight trading range of USD1,715.65 a troy ounce, the daily high and a session low of USD1,706.95 a troy ounce. Gold futures fell to a seven-week low of USD1,699.65 a troy ounce on October 24.Gold prices were likely to find support at USD1,688.85 a troy ounce, the low from September 7 and resistance at USD1,731.25, the high from October 22.Trading activity was expected to remain thin on Tuesday, as investors continued to monitor the trajectory of Hurricane Sandy, as it barrels along the U.S. East Coast. Markets in the U.S. were set to remain closed for a second day on Tuesday due to disruption caused by the superstorm.
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