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Gold futures dive lower for the sixth time in seven sessions as indications of rapid U.S. economic development increased projections for the Federal Reserve to increase interest rates, curbing demand for the metal as a store of worth. U.S. payrolls may have boosted by 200,000 in March, the most since November, according from a Bloomberg […]
Gold price as expected by our analysis posted yesterday made a pullback towards $1,280 without breaking its previous low and by retracing nearly 76.4% of the rise from $1,275 to $1,295. Gold price has back tested the broken downward sloping channel and is now trying to move back above the Ichimoku cloud to regain bullish […]
Gold futures inched higher on Friday but remained in a tight range as traders were in standby mode before the US jobs data. Gold to be delivered in June squeezed out a 50 cents profit to $1,285.10 per ounce in electronic trade, while May silver added a penny to $19.81 per ounce. A day before, gold rendered […]
April 4, 2014 – Commodities News Hot Asset For Today: Gold The pairing on the back of the the European Central Bank’s decision to keep rates unchanged at their meeting today moved upwards for a very brief moment in time. Nevertheless euro zone inflation was on the back of the minds of all traders and […]
The big monthly US jobs report will be released today. Initial claims for state unemployment benefits increased 16,000 to a seasonally adjusted 326,000, the Labor Department said on Thursday. The government’s closely watched employment report on Friday is expected to show non-farm payrolls increase of 200,000 jobs last month after rising by 175,000 in February. […]
April 3, 2014 – Commodities News Gold Gold has continued on a bearish path and is currently ranging at $1,285 while breaking the support of $1,284.6. The next support line is at $1,281.6 and the resistance level is at $1,288. Earlier today, at 14:00 (GMT) we saw a slight upwards movement following a weaker than […]
Futures for gold were seen climbing higher for a second day in a row on Thursday, before the release of the US non-farm payrolls report due on Friday. The anticipating US non-farm payrolls report could enlighten the current state of the world’s largest economy and may hint the next step the Federal Reserve (Fed) may […]
Overview: Since our last analysis, gold has been trading upwards, the price tested the level of 1,294.35 on average volume, we are still waiting larger movement. Our previous analysis is still active and we got good progress. According to the daily chart, we can observe weak demand bar on volume below the average. There is […]
April 3, 2014 – Commodities News Hot Asset For Today: Gold Gold climbed a little yesterday due to increased physical demand. Traders felt that the relatively low in the price at this point would make buying the precious metal good investment. Today, the pair is ranging in anticipation of US data coming out later today. […]
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Gold price reversed upwards yesterday after breaking above the short-term downward sloping channel that started at $1,345. This might be a short-term upward bounce before a final new low towards $1,250-60. We will be more confident that this upward bounce is the big upward bounce we expect, if prices break above $1,300 and if Gold […]
Gold skyrocketed, halting the lengthiest drop in 19 weeks, on speculation that demand for bars and jewelry will hike in China after futures reached a seven-week low. ANZ Banking Group Ltd. declared today its gauge of demand bolstered late last month in China, the world’s largest purchaser. Iraq’s central bank aims to process 11 metric […]
Technical outlook and chart setups: 1. Gold confirms bottom at $1,277.00 for now. A bullish reversal trading signal appears on the 8H chart view here. Recommendations are to remain long for now, risk remains at $1,270.00 for now. The metal should target at least $1,350.00 levels from here on. Also note that the reversal has […]
Gold is seen as a safe haven for investors when other markets are too volatile. For example, when equities are on the decline, chances are gold prices will rise. For this reason, gold options traders should keep a close eye on economic data that impacts the stock and other markets to attempt to predict movement […]
Technical outlook and chart setups: 1. Silver finally shows concrete signs of having bottomed out around $19.50 now. Yesterday the metal rallied past the $20.00 levels comfortable. It is expected to continue the rally in coming sessions. The chart view here shows a concrete bullish reversal signal. Recommendations are to remain long for now, risk […]
Considering a physical flow perspective, we believe that gold prices have been supported by renewed inflows into exchange traded funds, ongoing emerging markets central bank purchases and increased gold imports into China via Hong Kong.The gold market did not react much to the U.S. economic data released Wednesday. The U.S. data is forecast to show […]
Gold Gold touched its 7 week low twice yesterday but bounced back. We can finally see an increase in physical demand after the price dropped below $1,300/ounce. The situation in Ukraine seems to have calm down even though there is still some risk of escalating. If escalation does occur we could see the price climb back above […]
Overview The 4H chart demonstrates that silver is going take an upward move after its rebound from the Support level at 19.50 and currently is approaching the Resistance level of 20.20 trying to break it through to continue its bullish move. More buy signals would be provided in case of closing the 4H above this […]
Overview: Since our last analysis, gold has been trading sideways, around the price of 1,283.00 on average volume, we are waiting larger movement. Our previous analysis is still active and we got good progress. According to the daily chart, we can observe supply bar on volume just below the average. There is an also broken […]
Technical outlook and chart setups: 1. Silver remains unchanged since several days, trading around the $19.70/80 levels. Indications are bullish, till prices stay above the $19.00 mark. Recommendations are to remain long, look to add further at these levels ($19.80). Risk remains at $19.00. 2. Resistance is at $21.70/80, followed by $22.30, $23.00 and higher […]
Technical outlook and chart setups: 1. Gold might be already unfolding its Right Shoulder as depicted here; around the $1,277.00 region. It is slight above what we earlier discussed ($1,260.00) but shoulders are not always in line. A bullish candlestick reversal here, would potentially be considered as the right shoulder. Recommendations are to remain long […]
Gold price has continued lower yesterday towards $1,270. We mentioned in previous analysis that the area of $1,250-70 is important support area and I believe the downward move from $1,391 will end inside or near this support area. The bounce I expect will retrace 38% or 50% and this will be a good sell opportunity […]
April 2, 2014 – Commodities News Hot Asset For Today: Gold The Price of Gold touched its 7 weeks low twice yesterday but bounced back. We can finally see an increase in physical demand after the price dropped below $1,300/ounce. The situation in Ukraine also seems to have calmed down even though there is still a […]
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Gold futures seemed prepared to halt their five-day losing streak on Wednesday, gliding higher as economic data boomed before the jobs report. Gold to be delivered in June climbed $3.90 or 0.3%, in electronic trade to $1,283.90 per ounce. May silver gained 12 cents or 0.6%, to $19.81 per ounce. A day before, gold futures failed to break […]
April 2, 2014 – Commodities News Hot Asset For Today: Gold Price of Gold touched twice yesterday its 7 weeks lows but always bounced back. Finally we can see some increase in physical demand after the price dropped below $1,300/ounce. Meantime situation in Ukraine seems to calm down even though there is still some risk […]
The U.S. manufacturing companies expanded in March at a slightly faster pace compared to the prior month. March PMI registered 53.7, an increase of 0.5 point from February’s reading of 53.2, indicating expansion in manufacturing for the 10th consecutive month. The New Orders Index registered 55.1, an increase of 0.6 point from February’s reading of […]
Overview As shown from the today’s H4 chart, the metal is stabilizing above the support level of 19.50 after its failure to break last week. Currently, we must wait for re-testing the Support level again and closing below to get the bearish move opportunity according its rebound from the resistance level of 19.85. In that […]
Gold prices were seen trading higher on Tuesday, clearing losses seen in the previous session after the release of the mixed Chinese manufacturing data. Gold futures for June delivery climbed 0.05% higher to $1,284.00 an ounce at the time of writing, while futures for the silver metal slipped 0.32% to $19.690 an ounce at the […]
