Gold’s London AM fix this morning was USD 1,547.00, EUR 1,217.44, and GBP 974.00 per ounce. Yesterday's AM fix was USD 1,537.50, EUR 1,208.73 and GBP 966.31 per ounce.
Silver is trading at $27.48/oz., €21.77/oz. and £17.43/oz. Platinum is trading at $1,443.50/oz., palladium at $592.90/oz and rhodium at $1,300/oz.
Gold edged down $2.90 or 0.19% in New York yesterday and closed at $1,539.40/oz. Gold climbed during volatile trading in Asia having recovered from the NY close yesterday. In European trading the yellow metal is hovering near the $1,548/oz level.
Cross Currency Table – (Bloomberg)
Gold fought back yesterday after touching its lowest level since Dec 29 as concerns about Greece’s political instability and possible departure from the euro prompted investors to buy back into bullion.
Technically, gold’s trend remains down but gold looks increasingly oversold. Bullion’s 14-day RSI (relative-strength index) was at 25.14, and once it’s below thirty it may indicate a rebound.