Commodity Prices

Gold •291 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	977.20	+0.20	+0.02%
WTI Crude •10 mins	64.05	-0.63	-0.97%
Gasoline •12 mins	2.087	-0.012	-0.56%
Ethanol •291 days	2.161	+0.000	+0.00%
Silver •291 days	30.82	+1.16	+3.92%

Silver • 291 days	30.82	+1.16	+3.92%
Copper • 291 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	67.33	-0.63	-0.93%
Natural Gas • 10 mins	3.200	-0.045	-1.39%
Heating Oil • 14 mins	2.140	-0.012	-0.57%

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Gold: Bouncing, But No New High Yet

By - Sep 04, 2013, 7:11 AM CDT

Gold has bounced, breaking the initial resistance at 1405 (intraday high). We would still favour a second down leg towards the key support at 1352 (see also the larger rising channel). Resistances stands at 1417 (intraday high) and 1434.

We also note that the mild corrections thus far indicate a persistent weak selling pressure. Monitor the strong resistance at 1424/1434 as a decisive break would open the way for a further rise towards the next strong resistance at 1488.

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