17 Oct 2013
Gold’s finally reacting to US agreement – down to $1,279.70
FXstreet.com (Chicago) – Gold extends the bearish channel that started last September stalling around the $1,280.50 on US House agreement to pass the bill preventing the US default.
Boehner gave in to democrats accepting the proposal’s conditions and allowing another deadline for potentially similar dynamics among politicians. Repeating Boehner’s comments “we fought a good fight, we just didn’t win”, the same argument may be taking place a few months away.
With a decreasing credit risk and the upbeat of market participants’ moods, gold loses value to retreat 0.14% printing highs at $1,286.60 and lows around the $1,279.10 zone trading at $1,279.70 now.
Boehner gave in to democrats accepting the proposal’s conditions and allowing another deadline for potentially similar dynamics among politicians. Repeating Boehner’s comments “we fought a good fight, we just didn’t win”, the same argument may be taking place a few months away.
With a decreasing credit risk and the upbeat of market participants’ moods, gold loses value to retreat 0.14% printing highs at $1,286.60 and lows around the $1,279.10 zone trading at $1,279.70 now.