Gold Gains, Alert Support 1132

Gold prices rose to the area of ​​$ 1,142 per troy ounce this morning after there were indications of a potential US interest rate hike will be delayed. In the minutes of the meeting were released this morning, the US central bank officials expressed concerns about the state of global economy and a downward revision to inflation expectations.

Gold prices are now moving in the range of 1138, little changed from its highest level today. In the short term, there is potential for downward movement test immediate support around 1132. A break below the support range, opportunities decline to the next support area in 1127.

While the addresses above this range, the price is still potential to strengthen back to around 1142. While strengthening to the top of the area in 1142, the price rose to a potential area in 1148.

This night market need to be aware of three US economic data to be released is data Unemployment Benefit Claims, Philadelphia Manufacturing Index data and Second Home Sales data. When all three of these data better than expected, it may be able to remove the negative sentiment towards the US dollar as a result of monetary meeting minutes before dawn and push down the price of gold.