FXstreet.com (London) - Gold was able to recover friom sub $1100 levels overnight in Asian trade, but with little impetus. The precious metal only managed to trade at $1106 in the peak of the session, and has leveled off since the London open. Price quoting at $1102, and remains dominated by global risk sentiment swings as perceptions of future outlook are constantly changing.
Charts suggest a strong level of support below $1100, with rumours of Chinese and Idian government purchasing agenices buying on dips. Bullion will also continue to trade on sovereign debt doubts, as investor flock to the crisis safe-haven.
