ANALYSIS
NQ100 Finds Support from PPIApr 14
Ounce Gold Struggling to Hold Its Gains
Ounce gold could not recover significantly despite the weak course of the dollar last week. At this point, we think that the US 10-years, which are placed above the psychological 4.0%, make it difficult for ounce gold to find demand due to its safe-haven nature. As a matter of fact, the commodity confirmed the intermediate bearish trend in its upward trials. If the 1654 support can end with the declines, the losses may last until 1638, last seen on November 4. On the other hand, the 1685 – 1700 line above will continue to be a strong resistance zone.
