Gold prices weakened, the dollar strengthened
At the end of the NYMEX trading early this morning was the price of gold has a thin movement (02/03). The price of gold has not changed much from the previous trading after closing for two experienced rally the previous session. The price of silver has decreased from its highest position in one month later.
Gold prices tend to go into a consolidation phase after the dollar gain against the euro. Euro weakened after European Union states that Greece should try harder to reduce its budget deficit. Last night the dollar increased by 1.3% against the euro.
At the end of trading early this morning was the price of gold futures contract for April delivery fell by 60 cents. The price of gold was the most active contract closed at 1118.30 positions dollars per troy ounce.
Consulting analysis estimates that the condition of the current price of gold will tend to have to experience a correction. Having had time to reach record high gold probably will tend to correction before returning briefly to determine direction. For a while the gold is still going to see resistance at the level of 1200 dollars. Support will be found in the position in 1050 dollars.
