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Friday, November 23, 2007
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Commodity News
Nov 22 2007 9:44AM
Spot gold may range USD795-USD810

Singapore - Spot gold is likely to trade in the USD795-USD810/oz range until next Monday as Thanksgiving holiday in the United States Thursday and holiday in Japan on Friday should thin volumes. Market players are unwilling to build fresh positions before the weekend, says a Tokyo-based trader at major Japan house.

The trader add, "I don't think people want to trade aggressively at the moment." He says, bias remains to upside at the moment on dollar weakness and bullish sentiment. He tips gold to rally if breaks above USD810/oz.

Spot gold was last trading at USD803.20/oz, up USD5.50 from the New York close.

[Source: Dow Jones Newswire]
  Source:   

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Equities: Trading through Reliance Securities Limited | NSE SEBI Registration Number Capital Market :- INB 231234833 | BSE SEBI
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