The Federal Reserve has revealed the details of the document forcing US banks to work out the measures aimed at ensuring the liquidity of the US banking sector in case of economic shocks.
Mario Monti, Italian Prime Minister, urges the rest of the eurozone leaders to back the ECB’s measures to help eurozone economies reduce the debt service costs.
China’s trade balance surplus seems to have shrunk more than expected mainly due to lower export.
The US Mint reports that the overall demand for gold coins drooped by 49% last month.
Today’s forecast:
According to the Commodity Trading Department of , gold may test the resistance level located at 1618. A break above 1620.50 will give way to 1625, 1630, and maybe 1650. Alternatively, a failure to consolidate above 1620.50 will trigger the bearish scenario. If this is the case, the price may meet support at 1600 and 1590.
Silver may test the resistance area around 28-28.10. A break and consolidation above 28.10 will increase the probability of the price going up to 28.25, 28.50, and maybe 28.75. A failure to consolidate above 28.10 will bring the price back to 27.75, or even 27.50.
