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Gold price is holding above short-term support at $1,275 but does not make any upward break out. Gold price remains inside the short-term downward sloping trend channel and it cannot break above the channel resistance at $1,290. If price remains inside the channel, it will accelerate downwards when support at $1,275 fails. The trend remains […]
April 24, 2014 – Commodities News Hot Asset For Today: Gold Price of Gold has remained low, however without any significant movement. The price ranged between $1,280/ounce and $1,288/ounce. Today the price might be under pressure as the U.S. data (Core Durable Goods) is coming out. The lower price might be supported by physical demand […]
Gold surged on Wednesday, coming from its 2-1/2 month low it touched in the last session, as a milder tone to equities and the dollar backed arrest its glide although it stayed vulnerable to additional losses as investor demand stayed loose. The metal reached its lowest since mid-February on Tuesday following the US housing figures outmatched expectations, amplifying […]
An improving U.S. economy is not a good thing for gold prices, as it usually generates more confidence in the stock market. As a result, there is less demand for the safe haven gold offers as an investment, which drives down prices. Investors who trade gold should be paying close attention to U.S. economic indicators, […]
Economists have been disappointed by a string of weaker-than-expected home sales reports. Sales of existing homes dropped in March. Sales of new homes reported Wednesday were down 13.3% from a year earlier to their lowest level since last July. Technical view- The metal is under pressure after the dollar strengthened. The metal is in a […]
Gold clinched an increase from a 10-week low as mounting tension in Ukraine and U.S. economic data that missed projections triggered demand. Assets in the biggest gold-aided exchange-traded product were at the weakest in 12 weeks. Bullion for immediate delivery was at $1,283.68 an ounce at 8:57 a.m. in Singapore from $1,283.91 yesterday, based from […]
GOLD: Although biased to the downside, its ability to hold above the 1,277.58 level is suggestive of an impending recovery. Support lies at the 1,277.58 level. A turn below here will shift focus to the 1,250.00 level followed by the 1,230.00 level. Its weekly RSI is bearish and pointing lower supporting this view. On the […]
Overview As shown in the today’s H4 chart, the metal is stabilizing above the support level of 19.20 after its failure to break the support level last week. Currently, we must wait for re-testing the support level again and closing below to get the bearish move opportunity. In that case we will get a good […]
Overview: Since our last analysis, gold has been trading downwards, as we expected, the price tested the level of 1,277.35 on high volume. If we take a look at 4H timeframe, we can observe rejection from our Fibonacci retracement 38.2% (1,391.00), and that caused the price to start a downward movement. We can also observe […]
One of the biggest factors investors who participate in crude oil trading need to pay attention to is the supply in the U.S. According to ABC News, prices recently dropped closer to $104 a barrel, as U.S. supplies increased. In the week ending April 18, U.S. crude supplies jumped by 3.1 million barrels, which has […]
Chance Of Aussie Rate Hike Slips Morning Report: 08:30 London • This morning, the Australian dollar is facing isolated pressure after CPI levels came in well below estimates, thus lessening the probability of a rate hike in the near future. The Aussie pairs are down over 1% on a day that other pairs are generally […]
Gold price has held yesterday above $1,275 critical support. The decline from $1,331 is not a perfect impulsive move and combined with the fact that price is still above $1,275; we continue to prefer the scenario that this decline is only wave B and we should soon see an upward wave C towards $1,340-50. Gold […]
April 23, 2014 – Commodities News Hot Asset For Today: Gold Price of gold has continued its bearish movement and yesterday it shortly reached its almost 3 month low. The price reversed on $1,276.80/ounce means that support at 1,277 were just tested but remained unbroken. The price of gold dropped as U.S. stocks picked up […]
Gold futures dealt over 10-week low as developments in the US economy were studied against upheaval in Ukraine and clues of higher demand in China. Bullion to be delivered immediately settled at $1,284.63 per ounce at 2:31 p.m. in Singapore from $1,283.81 yesterday, when prices dropped on the sixth day to $1,277.69, the lowest since February 11. […]
Technical outlook and chart setups: 1. Gold prints a low a few cents below the previous lows ($1,277.60/70), before pulling back sharply.The risk on long positions still remains at $1,275.00. Th metal could possible reverse from current lows towards the mid $1,300.00 region again. However, a break below $1,275.00 now, would expose $1,230.00 levels. 2. […]
Silver is touching the lower end of the triangle seting it up for a major base formation completion and time for prices to take off. If it calls below the triangle, you will have to check if selling volumes support it. But the recent volumes have been dull in gold. So Silver going above 19.8 […]
Gold metal prices were seen trading slightly higher on Tuesday, bouncing back from its lowest level in three weeks while the ongoing crises in Ukraine remain in focus. Bullion for June delivery climbed 0.18% higher to $1,290.90 an ounce on the Comex in New York at the time of writing, while futures for silver edged […]
Overview: Since our last analysis, gold has been trading upwards, the price tested the level of 1,2912.00 on volume above the average. If we take a look at 4H timeframe, we can observe weak demand bars (small real bodies) on volume above the average and that is sign that buying at this stage looks risky […]
Markets Look For Post Easter Uplift Morning Report: 08:30 London • This morning, financial markets are looking for reasons to be positive after a lack lustre trading environment over the Easter period. As UK traders return to their desks from an extended break, stock markets are unchanged after a positive couple of sessions. […]
Gold stretched its losses into a fourth session on Tuesday and glided close to its lowest in 2-1/2 weeks on additional outflows from bullion-supported funds and firmer equities. Geopolitical upheavals in Ukraine failed to boost gold’s safe-haven appeal, underpinning bearish sentiment in the market. Spot gold plunged 0.2% to $1,286.65 per ounce. The metal dived to $1,281.40 […]
Gold price continues to trade above the important support of $1,275 and is now challenging the downward sloping trend line resistance at $1,291. If this trend line resistance is broken, I expect Gold price to move higher towards its next resistance of $1,305. If that resistance is broken as well, then Gold price should continue […]
Technical outlook and chart setups: 1. Silver tests $19.20/30 levels and pulls back again. If this holds true, the metal can very well resume printing higher highs and higher lows from here on.The bulls would want to target $20.40/50 levels immediately and declare that they are back again. Recommendations are to hold long positions for […]
After a three-day weekend, traders will return to the markets where there is little scheduled on the economic calendar. Today traders eye on US existing home sales data. Economists estimate sales slipped 1.1% in March to an annualized rate of 4.55 million. “This follows a fairly steady drop since July of last year,” Bank of […]
April 22, 2014 – Commodities News Hot Asset For Today: Gold As the tension in Ukraine faded the price of gold started to decreased. Since last Monday the price dropped down by almost $50/ounce. Last week we also saw that the U.S. stock market continued its reversal of the previous bearish sentiment when the U.S. […]
Technical outlook and chart setups: 1. The Yellow metal bounced back sharply from intraday lows at $1,280.00 levels yesterday. Currently trading at $1,290.00, the metal can resume rally towards at least $1,350.00/60.00 levels from here on. Bulls are poised to remain in control till prices are above 1,277.00 levels. Recommendations are to remain long, risk […]
Gold exchanged in almost the weakest performing mark in more than two weeks as investors weighed indications of a developing U.S. economy versus greater demand in China. Properties in the biggest exchange-traded product plunged to a 12-week low. Bullion for immediate delivery was at $1,287.81 an ounce at 8:56 a.m. in Singapore from $1,289.77 yesterday, […]
CRUDE OIL: With the commodity closing lower the past week, further downside pressure is envisaged. Despite its present price hesitation our immediate outlook on Crude Oil remains lower. On further weakness, support comes in at the 102.94 level where a breach will aim at the 102.04 level. A cut through here will target the 100.68 […]
Overview: Since our last analysis, gold has been trading downwards, as we expected, the price tested the level of 1,281.75 on volume above the average. If we take a look at 4H timeframe, we can observe supply bar on volume above the average and that is a good sign for potential downward movement. Price is […]
Technical outlook and chart setups: 1. Silver is testing recent swing lows at $19.20/30 levels again. The metal remains bullish till price stay above a level of $19.00. A successful test here should bring back the bulls into action again and drag prices towards $20.40 levels at least. On the flip side a break below […]
