Gold close to even at $1,108.00

(Barcelona) – Bearing in mind gold lost nearly $30 on a heavy fall on March 10, investors along the market behaved undecided on overextending the price further down, perhaps not yet fully convinced on putting their money off to riskier assets. Gold traded in a $10 range today although is now close to opening price at 1,108.00 zone.

Today, holders of gold resisted to let the price drop further down. On the Asian bell, price stagnated on a tight range bound between 1,107.00-1,110 levels. In Europe, the yellow metal slowly drifted lower towards 1,105.00. As soon as the US season opened, gold whipsawed $10.00 as some major inflows led the price to fall at 1,100.30 area (intra-day low) and back up to recover all the ground to reach 1,108.00 area (current price at 20:30 GMT).