Sunday, January 8, 2012

gold prices down today jan 9 2012

gold prices down today jan 9 2012 ; Gold prices dropped on Monday, extending Friday’s losses into a new week as uncertainty surrounding Europe’s future coupled with optimism brimming over from recent U.S. jobs data fueled more demand for dollars and less for gold.

On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,610.45 a troy ounce, down 0.39%. Gold futures were likely to test support at USD1,594.05 a troy ounce, Wednesday’s low, and resistance at USD1,632.15, Friday’s high.

markets are turning to their attention to Europe, as French President Nicolas Sarkozy and German Chancellor Angela Merkel are set to meet Jan. 9 to find ways to make good on a December pledge among E.U. nations to better coordinate fiscal policies.

European uncertainty has sent more and more investors fleeing to the safety of the greenback in recent sessions, a trend that often sends gold falling. For the latest updates on the stock market, visit Stock Market Today
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