Gold on verge of big breakout

Analysts expect gold prices to trade up in the coming week with COMEX spot gold resistance at $1,860 per ounce and support at $1,800 per ounce. The break above $1,860 may lead prices towards $1,890 levels.

Gold prices declined by 0.20 percent during the week to settle at Rs 47,667 per 10 gram on choppy trading and firm rupee. The precious metal came under pressure as the US dollar recovered. The dollar recovered last week as a stronger-than-expected consumer prices data stoked inflation concerns that could force Fed to raise interest rates.

Capital Limited (LON:CAPD) provide complete exploration and production drilling solutions to customers within the global minerals industry, with a focus on the African markets.

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