Gold is hovering around Exponetial moving average(EMA) 100 on the hourly chart in the elecronic trading and is looking weak unless it breaks above the same. The yellow metal is quoting at $1731.60, up $6.30 per ounce on the day. The EMA 100 is placed at $1732.50 on the houslry chart. The metal had tested its seven week highs last week before easing quite quickly and it looks like that a continued break down from hereon would push the counter towards $1700 per ounce yet again. Prices are up nearly 11% from year to date.
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