Gold price above $1430

Comment on this story
GoldBars REUTERS Gold bars weighing between 50 grams and 1 kilo are displayed in this file photograph.

Gold prices edged above $1,430 an ounce in Europe on Monday as the weaker dollar and rising oil prices lent support, but gains were capped by sharper appetite for risk after last week's well-received U.S. payrolls numbers.


* Spot gold was at $1,430.70 an ounce at 08:30 SA time compared with $1,427.98 late in New York on Friday.

* Silver was at $38.07 from $37.74.

* Platinum at $1,765.74 from $1,765.

* Palladium at $774.97 from $769.95.


* Euro zone sentix index for April, 10:30 SA time.

* Euro zone producer prices for February, 11:00 SA time.

* U.S. employment trend index for March, 16:00 SA time.

* U.S. Federal Reserve Chairman Ben Bernanke speaks before the Federal Reserve Bank of Atlanta 2011 Financial Markets Conference, 01:15 SA time.

* U.S. Fed Bank of Chicago President Charles Evans discusses economic conditions and monetary policy issues in live interview on CNBC's Closing Bell, 21:15 SA time.


* The dollar eased against the euro, while the single currency hit fresh 11-month highs against a broadly weaker yen on Monday, with markets all but certain the European Central Bank will raise interest rates later this week.

* Brent crude climbed above $119 a barrel and U.S. crude hit a 2-1/2-year high at more than $108 as unrest in the Middle East and North Africa triggered concern that supplies could be dented while economic growth bolstered demand.

* Asian shares rose to their highest in nearly 3 years after strong U.S. jobs growth spurred optimism about the global economy.

* European shares were set to dip at the open as traders consolidate hefty gains from the previous session, when a key index hit a three-week high.


* Speculators in gold futures and options raised their net long positions as prices rose to fresh records last week, data from the U.S. Commodity Futures Trading Commission showed on Friday.


* Gold support at $1,415, resistance at $1,441, 14-day RSI at 71.4.

* Silver support at $37.21, resistance at $38.11, 14-day RSI at 77.6.

* Platinum support at $1,754, resistance at $1,786, 14-day RSI at 58.4. - Reuters

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

  5. Verified email addresses: All users on Independent Media news sites are now required to have a verified email address before being allowed to comment on articles. You are only required to verify your email address once to have full access to commenting on articles. For more information please read our comment guidelines