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Home / Metal News / MF Global Daily Report: Base Metals (Sept. 13, 2011)

MF Global Daily Report: Base Metals (Sept. 13, 2011)

iconSep 13, 2011 10:10
Source:SMM
The gold market is expected to hold its downward bias in the near-term, with prices reaching the $1,750/oz level over then next week or so.

Sept. 13 (MF Global) -- Price Outlook

The gold market is expected to hold its downward bias in the near-term, with prices reaching the $1,750/oz level over then next week or so. Pressure will be applied by a breakdown in the Eurozone, a relatively firm trade in the U.S. stock market, and by technical factors. Opposing support could come from weakness in employment data and signs that economic weakness will persist. We favor trading the gold market as a negative affair.
 

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