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Gold prices flat in Asia with focus on Fed stimulus plans

Published 01/20/2014, 06:25 PM
Updated 01/20/2014, 06:40 PM

Investing.com - Gold prices were flat in the morning Asian trading hours on Tuesday, as traders continued to speculate over how quickly the Federal Reserve will roll back its stimulus program.
 
On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,254.70 a troy ounce during Asian morning trade, up 0.01%.
 
On Monday the gold prices held in a range between USD1,254.60 a troy ounce and USD1,255.50 a troy ounce to end at USD1,254.60 a troy ounce. Futures were likely to find support at USD1,237.30 a troy ounce, the low from January 17 and resistance at USD1,262.90, the high from December 11.
 
Meanwhile, silver for March delivery added 0.2% to trade at USD20.318 a troy ounce. Silver futures were likely to find support at USD19.96 a troy ounce, the low from January 17 and resistance at USD20.67, the high from January 14.
 
According to data from the Commodities Futures Trading Commission released Friday, hedge funds and money managers increased their bullish bets in gold and silver futures in week ending January 14.
 
Elsewhere on the Comex, copper futures for March delivery fell 0.6% to trade at USD3.339 a pound.

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