Gold Range-bound, Less Risk In US Data: iiTrader | Kitco News

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Kitco News speaks with iiTrader’s Bill Baruch to get his take on gold’s price action and how he expects this heavy economic data week to affect the yellow metal. Baruch says that gold has been range-bound for the past year. “Right now there’s resistance on a trend line that comes in at $1,310…and we have the 100-day moving average at around $1,280…the market has been in that range.” While traders await the conclusion of this FOMC meeting on Wednesday as well as nonfarm payrolls on Friday, Baruch says that people are seeing less risk in US data. He adds that this is probably why gold has spent a lot of time below $1,300. Tune in now to hear his key levels for gold and what action he expects to see in the market this week. Kitco News, April 29, 2014.

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