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Reuters Quote: Gold ends flat as rally pauses; $1,150/oz seen key
NEW YORK (Reuters) – Gold futures ended a hair lower on Thursday as the market took a breather after rising for the past five consecutive sessions, and the metal must break above key resistance at $1,150 to rise further, analysts said.
Bullion prices have climbed nearly 3 percent so far this week, largely defying a stronger dollar, as persistent fears over the fiscal health of smaller euro zone economies prompted investors to buy the metal as a haven from financial risk.
The price of gold has been largely moving in a trading range between $1,050 and $1,150 since it rallied to a record high above $1,220 in early December, failing to show a clear direction.
The fact that gold had a technical break-out on Wednesday while the dollar was also rallying “speaks volume” for the metal’s strong underlying demand, said Adam Sarhan, chief executive officer at New York-based Sarhan Capital.
Sarhan said that it will be key for gold to close above $1,150 an ounce for the week, as the metal has risen toward the mark several times but had failed each time.
“If it does rise above $1,150, that means we can confirm the break-out. If it doesn’t, we expect some sideways actions to continue.”

Top tech trends in 2014 and what they mean to investors
Major shifts in the tech industry became more pronounced in 2013 and the coming year should see many key trends, led by mobile, cloud computing and social networking, become even more prominent. Here are the top 10 technology trends to watch in 2014. Full Story: http://www.marketwatch.com/story/top-tech-trends-to-watch-in-2014-2013-12-20?link=sfmw Tell A Friend To Join Our Newsletter

The Rules Change In A Bear Market
Protect Yourself During This Bear Market – Open An Account With Sarhan Capital Today I’m operating with the notion that we are in the early stages of a new bear market (and global recession). My longstanding readers know I first turned defensive (here) on equities in early August 2015 (before the big August crash). In…

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