Flat - Gold Prices Movement in Asian Session

In electronic trading in Asia today gold price movements seems to have an inclined flat (02.12). Gold prices tend to weaken thinner than the close of trading early this morning. Prices began to enter consolidation after trading two days earlier had triggered a sharp increase in policy euphoria combined six central banks to boost liquidity.

Market players began to soften as the euphoria faded. Currently the market is more focus to the release of the sectors employment data of the U.S. Tonight will be released NFP data and the unemployment rate, which is a description of the conditions of labor sector in the U.S.

Spot gold prices seem to have a slight decline and currently stands at position 1742.40 dollars per troy ounce. This gold price seems to have decreased by 1.9 dollars from the close of trading early this morning. Meanwhile, Nymex gold futures prices for December contracts seem to have increased by 0.4% to the position of 1747.40 dollars per troy ounce.

Vibiz Research Analyst of Vibiz Consulting estimates that the price movement of gold to start a solid in a bullish pattern. The price of gold will find support at position 1675 dollars per troy ounce. Resistance is strong enough currently exist in the level of 1750 dollars.

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