Gold
2010-02-22,Weekly summary 15-19.02.2010
Gold gained to $1100 an ounce in London especially on developing Greece concern what naturally created demand for safe haven assets. Bullion was also in favor thanks to temporary dollar's rally pause.
Gold rose to $1120 according to London settlement just on market speculations about increasing demand for precious metals due to Greece turmoil. Bullion priced in euro reached a record as this precious metal is naturally benefiting on weakness of euro zone currency.
Gold fell to $1108 an ounce in London as Greece concern eased and dollar got strengthen to 1.3580 against euro. Also majority of traders decided about some profit taking after such significant jump from $1050 last week toward $1120. On the other hand investments in SPDR Gold Trust gained by
3,1 MT to 1,109.42 MT.
Some tech. levels:
Res.: $1130 - $1155
Sup.: $1108 - $1080
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