Gold Market Update for February 07th

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Here is today’s chart on gold for Feb 07. Am watching for resistance at 1360.00 and support at 1320.00 then 1310.00.

“Yellow metal price closed depressed as prime hedgers and investors negated making any significant move on possible report of better output that may decide Gold Futures deals on short and long term basis. Stocks uncertainty and value of certain currencies also influencing gold trade as traders are not keen to take new positions and it is expected general prices to be largely confined to a similar kind of range….”

This commentary and chart is provided for informational and educational purposes only and is not a recommendation to buy or sell any gold contract. Here’s the chart which is provided by

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