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MUMBAI, Mar 09 - Gold Trading prices topped $1,700 an ounce Friday as concerns lingered about Europe’s financial problems even after strong participation in Greece’s bond swap. Gold for April delivery rose $12.80 to finish at $1,711.50 an ounce. Silver also rose 38.1 cents at $34.212 per ounce. Both metals are considered relatively stable assets during uncertain economic times.
About 84 percent of Greece’s private investors agreed to take losses on their bond holdings, erasing about $130 billion in the country’s debt. Greece is now expected to get bailout funding from its neighbors.
Gold Technical View : We have made things simpler for readers, we have incorporated a indicator overlaid in prices which gives the common investor the over all trend of the commodity at a glance.
On the price chart ,we have given the Cylcle strenght indicator for GOLD , Silver, Crude, Euro and Dow – and the way to interpret is as long as the indicator values is above 0% – a bullish ( strength) signal and below 0% reading indicated a bearish ( getting weaker) signal.
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