Gold prices extended losses on Monday, after last week biggest weekly decline since November on speculation that the Federal Reserve will increase interest rates next year, reducing demand for the metal as a store of value. Gold futures edged 0.53% lower to $1,328.90 per ounce at the time of writing, while silver futures declined 0.47% […]
Gold price has reversed from $1,340 and moved towards its lows near $1,320. Gold has short-term support at $1,318-19. If this support holds, we could see an upward move towards $1,340 again and, why not, towards $1,350 near the 38% Fibonacci retracement. The decline in Gold price could also be counted as a 5 wave […]
March 24, 2014 – Comodities News Hot Asset For Today: Gold Gold ended Friday’s session mildly higher, but still posted the worst weekly loss in four months following the Federal Reserve’s decision to taper its monthly bond-buying program by $10 billion for the third consecutive meeting and amid indications a rate hike from the central […]
Markets Push Higher Despite China Slowdown Morning Report: 08:30 London • This morning, financial markets are making early gains despite signs of a slowdown in China. HSBC Chinese Manufacturing PMI came in well below estimates, but stocks and commodity related currencies have shrugged this off to show some fight. […]
Gold futures stretched the largest weekly loss since November on anticipations the US interest rates will escalate next year, regulating demand for the metal as a store of value. Palladium traded close to the highest price since 2011. Bullion to be delivered immediately erased 0.4% to $1,329.71 per ounce and settled at $1,333.01 at 8:47 a.m. in Singapore. […]
Overview In today’s H4 chart, we see that the metal is trading between the Support level of 20.00 and below the Resistance level of 20.50 after its failure to break the Resistance level last Firday. It bounced from it to take a slightly downward move. Currently, it is testing the Support level of 20.00. Presently, […]
GOLD: With GOLD weakening and reversing its previous week gains the past week, further downside is likely in the days ahead. Support comes in at the 1,320.39 level. This if taken out will pave the way for a run at the 1,300.00 level. Below here will aim at the 1,280.00 level where bulls may come […]
Overview: Since our last analysis, Gold has been trading upwards, the price tested the level of 1,342.21 on average volume. According to the daily chart, we can observe weak supply on the high volume, which is sign that we may see smaller bullish correction before the potential bearish movement. I have placed Fibonacci retracement levels […]
Technical outlook and chart setups: 1. Silver bounces off the $20.13 lows created yesterday. As seen here,it is the 0,618 fibonacci retracement level of the rally between $19.00 and $22.30. Recommendations are to initiate atleast 50% at current market ($20.50). Risk remains below $19.25 for now. 2. Immediate support is at $20.00, followed by $19.00, […]
Technical outlook and chart setups: 1. Gold is seen to be bouncing off right from the trend line support from around $1,320.00 levels. Yesterdays candle was a doji, followed by a bullish candle today (not yet complete). Since the uptrend line is being followed, prices may bounce off to fresh highs or atleast $1,370.00 from […]
Gold rose slightly on Friday, picking up for the first time in five days, but still heading towards its biggest weekly drop in four months. The metal prices were dragged lower by the strengthened US dollar and the Federal Reserve’s suggestion to increase the interest rates in the first six months of 2015. Gold futures […]
Gold clinched the largest four-day decrease since November after the Federal Reserve stoked the outlook for greater interest rates emphasizing Goldman Sachs Group Inc.’s projection that the 2014 hike would reverse. Bullion, which backslide the most since 1981 last year as some investors gave up their faith in the metal as a store of worth, […]
Gold price has found support above $1,318 and is now trading near $1,338. Gold price is ready for a bounce higher towards $1,350-$1,360. This upward move is corrective, and we will look to go short with $1,390 as a stop and the $1,300-$1,270 target area. Short-term trend has changed to upward. I expect Gold price […]
March 21, 2014 – Commodities News Hot Asset For Today: Gold Gold was on a down trend from earlier this week. The yellow metal has been hit especially hard by tapering as its appeal as a safe haven declines. For now, the precious metal is ranging due to the lack of significant data and the […]
Markets Firm As Rally Holds Morning Report: 08:45 London • Markets have recovered after new Fed Chair Yellen’s difficult first week in the spotlight. Markets rallied into the evening and that sentiment is carrying over this morning. • Stock markets look set for a second straight day of gains, while the dollar index is holding […]
Gold futures advanced on speculation the biggest weekly loss since November would goad physical demand following the Federal Reserve said interest rates might increase but Goldman Sachs Group Inc. predicted decreases. Bullion to be delivered immediately profited 0.6% to $1,335.63 per ounce and settled at $1,333.23 by 12:21 a.m. in Singapore. Prices are slated to plunge 3.6% this […]
Gold traded near its lowest in three weeks on Thursday after Federal Reserve policy makers signaled an increase of the bank’s interest rates in the next six months. Gold futures for April delivery dropped 0.76% lower to $1,331.20 an ounce at the time of writing, while silver futures edged 0.95% lower to $20.630 an ounce […]
Unlike gold, silver failed to go above the 40-week average. It lacks the same impulsive behavior so it might be doing something different. $20.42 is the 20wma support, below which I would consider that its still forming a triangle and could go down to the lower line at $19.22$. The material has been provided by […]
As we said yesterday, gold was probably moving within a pullback from $1,320.0 towards $1,331.0, and $1,337.0. That was true, and gold moved exactly within our levels and made a high at $1,334.30. In the hourly chart, the RSI is showing a completed positive divergence. We expect further up move in coming 1-2 days. On […]
Overview As it was expected last week, more bearish signals would be available after breaking the Support level of 20.20, then the metal continued its downward move after breaking the Support level, which gave us another good opportunity to sell till reaching the Support level of 20.00. Currently, as shown, the metal is hitting the […]
Technical outlook and chart setups: 1. Silver is heading lower as per expectations. It is recommended to initiate long positions at $20.00 levels, which is also fibonacci 0.618 support for the entire rally from $18.75 to $22.30. Also the past resistance turned support criteria has been met at $20.50. 2. Immediate resistance is the $23.00 […]
Technical outlook and chart setups: 1. Gold is continuing its slide down for now and first support is now seen at $1,300.00 levels, which is the fibonacci 0.382 support as seen here. It is still recommended to remain flat and look to sell on a pullback towards $1,370.00 atleast. 2. Immediate resistance is at $1,388.00/95.00, […]
Overview: Since our last analysis, Gold has been trading downwards, as we expected, the price tested the level of 1,327.47 on high volume (selling climax). According to the daily chart, we can observe strong supply on the high volume, which is sign that we may see larger bearish corrective phase. We can also observe that […]
Gold price has fallen towards our support area of $1,330 after breaking the levels we mentioned as critical for the downtrend. Gold price has broken below the Ichimoku cloud in the 4-hour chart and moved towards the target we gave once the support failed. Short-term trend remains down as we noted when $1,375 was broken. […]
Messy Markets Post Fed Morning Report: 08:45 London • After a volatile reaction to yesterday’s Fed meeting and Yellen press conference, markets are messy this morning. Stocks are recovering from the morning lows and yesterday’s sell off while, the dollar index holds yesterday’s monster gains. […]
Most Fed watchers expected the central bank to announce that they will reduce the size of its monthly bond buying by further $10 billion, to $55 billion. Currently, short-term interest rates are roughly in line with FOMC forecasts. If the interest rates start rising, then gold prices will come down. The Fed did what everyone […]
GOLD: With a second day of weakness occurring on Tuesday and GOLD following through lower during Wednesday trading session, further bearishness remains. Support comes in at the 1,319.20 level. This if taken out it will pave the way for a run at the 1,300.00 level. Below here will aim at the 1,280.00 level where bulls […]
Overview: Since our last analysis, Gold has been trading downwards, as we expected, the price tested the level of 1,339.56 on volume above the average. According to the daily chart, we can observe supply on the volume above the average, which is sign that we may see larger bearish corrective phase. We can also observe […]
Gold prices dropped for a third straight session on Wednesday, as the market waits for the conclusion of the US Federal Reserve’s (Fed) March policy meeting later in the day, as the situation in Ukraine continues to be in the spotlight. Gold futures for April delivery edged 0.27% lower to $1,355.40 an ounce at the […]
Gold price despite making a small upward bounce towards $1,360 yesterday, it has reversed lower implying that a bigger degree corective move is in play. The downward move in Gold is impulsive in nature and I will expect an upward bounce towards $1,375 before going short. This downward correction will at least move towards $1,300 […]
