Gold Stabilizes But Strong Dollar Remains Obstacle To Higher Prices
(Kitco News)- Gold has settled down overnight with indications of freshbuying out of Asia. The primary short-termheadwind for gold remains the strength of the dollar, which continues tobenefit from inflows against the widening yields in favor of the U.S. From a technical level, support appears around the$1,272 area, with the next level at $1,267. Should we lose the secondary line,the short-term target remains $1,250.Investor apathy remains apparent in North American retail demand; however,secondary product, such as Eagles ,Buffalos and MapleLeafs, offered at reduced premiums tocurrent year is beginning to attract investors wanting to hold physical gold.Silver has buying interest at the $16.20 level and remains a better proxy forthe bulls.
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