Monthly Precious Metals Report
(Oct 2014)Source: ScotiaMocatta
Precious metals prices fell heavily in September and spiked lower in
early October after the US employment report sent the dollar higher –
prices became oversold and are now attempting to rebound.
- Gold prices broke below support at $1,200/oz and fell to
$1,183.30/oz – but the double bottom around $1,180/oz held.
- Bullish sentiment in Gold has evaporated as confidence in the
financial system has returned, especially with the US recovery.