Grexit Would Likely Put a Short-Term Floor on Gold

June 20, 2015 Posted by admin

After three weeks of consistent selling pressure in both futures and ETFs, the precious metals sector showed some signs of life the past couple of day.

The Fed- fueled asset rally has helped gold rally back to the middle of its recent range. The $1175-$1225 range, where the yellow metal has spent most of the year so far, has shown little reason to attract fresh inflows. Thursday’s rally was a short-covering move on back of both U.S. dollar weakness and some short option interest at the $1200 level, although there is very little compelling going through the options markets….323 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

Article source: http://realmoney.thestreet.com/articles/06/19/2015/grexit-would-likely-put-short-term-floor-gold

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