Gold futures, after a brief period of growth, caused by the aggressive tone of comments is not enough US Federal Reserve, as well as the risk aversion due to the uncertainty of the situation in Greece resumed its decline. Given that Greece proposed extension of aid programs and the country took it, repositioning in favor of safer assets may cease. And it will not benefit the yellow metal.
In addition, later today will be published data on orders for durable goods in the United States. If the report will be strong enough, the market can once again believe that the US Federal Reserve is already at the September meeting will be ready to consider the possibility of a rate hike. By pushing a number of factors: the stabilization of the labor market, stronger-than-expected data on sales of existing homes (5.35 million vs. 5.26 million), signaling the continuing recovery in the property market.
In the area of gold 1180.00 level to form a support. The breakthrough of this mark will boost the “bears”, which will increase the pressure on the yellow metal, aiming it to move to the next barrier 1171.40.
|Gold futures chart|