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Gold giving back the gains from late day rally despite geo-political concerns

FXstreet.com (Barcelona) – Gold rallied up to around 1,405 at 00:31GMT on building concerns over possible US military activity in Syria. However, gold dropped back down to 1,395 by 01:24 GMT and has been consolidating since then.

Gold now seeing “safe-harbor” money in addition to “weak-Dollar” money

Gold traders will continue to watch developments in the Middle East, but will also have to monitor the US data points due out Tuesday including the S&P Case Schiller Home Price Index, Consumer Confidence numbers and Richmond Fed Manufacturing Index.

Technical outlook for gold

Technicians say that gold …read more