Heavy Losses For Aussie As Building Approvals Slip Morning Report: 08:30 London • The Australian dollar is under heavy pressure this morning after building approvals came in well below estimates and inflation nudged slightly lower. Company operating profits came in above estimates, but the damage has been done. […]
Gold price has not made any upward bounce yet but continued its downward trend lower towards $1,240. This was our short-term target in case the triangle was broken and it has been achieved. The trend remains down. Prices continue to make lower lows and lower highs. Price is still below the Ichimoku cloud resistance and […]
Gold aficionado hoped the precious metal would rebound from a dismal May and attract investors who felt skittish about equity market highs. However, that remained in the balance as gold prices kicked off this month with a dive lower Monday. Gold for August delivery dropped $1.60 to $1,244.40 per ounce. July silver climbed 6 cents or 0.3%, […]
June 2, 2014 – Commodities News Hot Asset For Today: Gold Price of Gold has continues its bearish movement and already reached $1,240.70/ounce. The price dropped sharply last week as the U.S. stock market reaching its record high. The price already moved down by more than $50/ounce. The physical demand has remained weak which might […]
Technical outlook and chart setups: 1. Silver is seen to be trading in a falling wedge pattern on the weekly chart view presented here. A metal is formed constant supports around sub $18.00/20 levels as seen here. A break below $18.20 could be extremely bearish and push the metal through $17.00 and $16.00 levels respectively. […]
Technical outlook and chart setups: 1. Gold has slipped to lower levels and has remained just shy of $1,240.00 as seen here. A further push below $1,240.00 could bring in $1,230.00 levels into focus. Please note that fibonacci 0.786 support is passing through $1,230.00 region for now. Recommendations are to remain flat for now and […]
GOLD: The commodity remains weak and vulnerable following a sell off the past week. That leaves the pair targeting further downside in the new week. However, at this stage GOLD is prone to correction of the mentioned weakness. Support lies at the 1,240.77 level as the next support where a breach will set the stage […]
Mood Turns As Japan Falters Morning Report: 08:30 London • Last night, the S&P 500 closed at yet another record high, but this morning, the mood is turning after Japanese household spending fell at its fastest pace for three years. At the same time inflation grew, putting on hold the chance of imminent action from the […]
May 30, 2014 – Commodities News Hot Asset For Today: Gold The price of Gold has continued its bearish movement and yesterday dropped to its new 3 moth low and reversed on $1,251/ounce level. The trend was interrupted by unexpectedly low U.S. GDP which shrank in the first quarter by 1.0%. However, the overall economic […]
Gold settled down after three consecutive days of decline but the worst may be yet to come as metal is predicted to decline to its biggest upset this week, its’ lowest in two months as the market watches the US economy’s steady recover into positive territory, diminishing gold investment appeal. Spot gold gained a 0.2% […]
CRUDE OIL: With the commodity halting its weakness and taking back some of its Wednesday losses on Thursday, it now looks to extend that strength. Except it returns below the 102.64/61 levels, our bias remains higher with eyes on the 104.49 level where a break will pave the way for a run at the 104.98 […]
Gold price has broken below the $1,260 support and is now heading lower. The trend is down. Prices are moving lower without being able to stage a considerable bounce upwards. Price is below Ichimoku cloud in our time frames. Price is heading towards our target of $1,240. Any possible bounce will find resistance at $1,265-70. […]
Commodities Feel The Pressure Morning Report: 08:30 London • Commodities continue to feel the pressure this morning, with silver down another 0.79% and gold off by nearly 0.40%. The strengthening US dollar is having a significant impact here. […]
Gold value drops further as exchange-traded assets fall at its lowest since 2009. Continuing its 15-week decline, gold futures amounted to $1,256.10 an ounce today. It was the bullion’s lowest price since February. The decline is associated with the US equities rise to record highs as investors continue to underpin them. As a result, exchange-traded […]
May 29, 2014 – Commodities News Hot Asset For Today: Gold Gold shed a lot of value yesterday and is continuing to do so today. Though the dollar is not particularly strong this morning, overarching concerns about the strength of the Chinese economy and its ability to affect physical demand have put downward pressure on […]
May 29, 2014 – Commodities News Hot Asset For Today: Gold Gold shed a lot of value yesterday and is continuing to do so today. Though the dollar is not particular strong this morning, overarching concerns about the strength of the Chinese economy and its ability to affect physical demand have put downward pressure on […]
Technical outlook and chart setups: 1. Gold has reached the 0.618 fibonacci support levels of the rally between $1,180.00 and $1,388.00 as seen here. Furthermore past resistance turned support region is also around $1,250.00/60.00. A bullish reaction could be expected around $1,250.00/55.00. Recommendations are to remain flat for now and watch out for bullish reversal. […]
Technical outlook and chart setups: 1. Silver is again possibly forming bottom around $19.00 levels as seen here. The metal could stage a bullish bounce from current levels till prices stay above $18.75. Recommendations are to remain long with stop below $18.50. 2. Support is seen at $18.90, followed by $18.75, $18.50/60 and lower while […]
GOLD: Outlook for GOLD remains lower after breaking lower out of its consolidation on Tuesday and following through lower on Wednesday trading session. Support lies at the 1,250.00 level as the next support where a breach will set the stage for a run at the 1,230.00 level. Further down, a turn below the mentioned support […]
Overview From the today’s H4 chart, silver is still stabilizing above the Support level of 19.00 and could not break it and currently is bouncing from it towards the Resistance level of 19.20. So, we still suggest waiting for closing above the Resistance level in case of bouncing from the Support level of 19.00 to […]
May 28, 2014 – Commodities News Hot Asset For Today: Gold The price of Gold dropped to its 3 moth low and reversed on $1,260/ounce level. The S&P500 index managed to reach its record high and that was the cause of the decline in gold. Investors weighting their position in gold and selling it. Some […]
Overview: Since our last analysis, gold has been trading downwards, the price tested the level of 1,260.61 on ultra high volume (selling climax) according to the Daily chart. Since the price didn’t break our resisntace level at 1,305.00, we saw strong downward pressure. Anyway, selling still looks very risky since we are on the support […]
Gold price is trading near $1,265 after having broken the sideways triangle and making a new lower low in the daily chart,similar to the $1,268 it made in April. Another important bearish signal is the fact that we had a daily close below $1,275 and this implies that more selling pressures should come soon and […]
Technical outlook and chart setups: 1. Gold has broken down the trading range below $1,270.00/80.00 levels as seen here. The metal is trading at $1,260.00 levels for now which is also the fibonacci 0.618 support of the rally between $1,180.00/82.00 and $1,388.00. A bullish bounce could remain possible at current levels. Recommendations are to remain […]
Technical outlook and chart setups: 1. Silver has broken down the channel line support as seen here and traded around $19.00 levels yesterday. A continued break below $18.90 and subsequently $18.75 could prove extremely bearish for the metal and it could continue drifting lower. 2. Support is seen at $18.90, followed by $18.75, $18.50/60 and […]
Gold was hardly beaten by optimistic consumer confidence data. The released data fueled USD. The stronger US dollar covered gold with the red blanket sending it to lower levels. GDP, unemployment and pending home sales data will drive the metal towards $1,244 or $1,277 levels. The rough weather will impact the Q1 growth and we […]
Markets still optimistic despite far right gains Morning Report: 08:30 London • This morning, currencies with the biggest exposure to China (Aussie and Kiwi) are coming under pressure after Chinese banks reported the largest level of bad debt since 2009. Many are expecting more bad news from the emerging power house, but nobody knows how far […]
Gold futures dropped to a 15-week low in New York as US equities and Standard & Poor’s (S&P 500) Index climbed to a new record highs, constraining demand for the precious metal as an alternative investment. The S&P 500 Index of stocks escalated to a new intraday high as an increase in durable-goods orders amplified growth prospects for […]
Confidence in gold as a stable alternative currency took a hit last session when it dropped 2.2%, similar to the single day decline experienced last December, amidst newly released US data that showed improvements in its economy. The precious metal’s decrease led to its lowest value last seen on February 7th even reaching as low […]
Overview According to yesterday’s expectations, the price’s close below the Support area of the upward trend line will give new opportunities for sell signals. Currently, the metal has already managed to close below the Support area then the Support level of 19.20 to trade below and open the way towards 19.00 which is tested right […]
