United Kingdom Markit Services PMI improves to 51.5 in Jan from 48.9 in Dec
Feb 5, 2013
Gold trading at $1673.77
The price of gold moved higher yesterday, however it remains well confined within a relatively tight range between the 200-days SMA and the 50-days SMA, limited also by the main descending trend line from the upside.
Emmanuel Ng of OCBC Bank notes that the Euro took a reality check on Monday as underlying political concerns in Spain and Italy resurfaced while the resolution of the majors ended largely mixed against the dollar.