March 11, 2014 – Commodities News Hot Asset For Today: Gold Gold climbed up yesterday as markets await developments in the ongoing Russian standoff in the Ukraine. Ongoing geopolitical tensions in Ukraine bolstered gold’s appeal as a hedge on Monday. Russia remained at odds with the West on how to end the standoff in Ukraine, […]
Gold futures advanced as investors weighed the possibility of trimmed stimulus in the US versus intensified upheaval in Ukraine. Holdings in the largest exchange-traded product stretched to the highest this year. Bullion to be delivered immediately ascended 0.3% to $1,344.02 per ounce and traded at $1,342.29 at 11:50 a.m. in Singapore. Prices listed a fifth weekly gain last […]
SELL GOLD IN THE RANGE OF $1,340-$1,355. SL IS AT $1,363.0 Geopolitical tensions in Ukraine had underpinned gold prices last week. U.S. President Barack Obama said that Crimea’s referendum on seceding from Ukraine to join Russia is illegal and added that the U.S. and European Union are united against Russia’s intervention in Ukraine. In case […]
Overview: Since our last analysis, gold has been trading upwards, the price tested the level of 1,327.89 on volume above the average. Our previous analysis is still active and buying at this stage looks risky. Gold is around our critical resistance area, the price of 1,338.00. According to daily chart, we can observe a supply […]
March 10, 2014 – Commodities News Hot Asset For Today: Gold Gold extended losses for a second session on Monday after strong US jobs data eased worries of an economic slowdown and dimmed the metal’s safe-haven appeal. Fears among Chinese investors over a slowdown in the world’s second biggest economy also hurt prices, with investors […]
March 10, 2014 – Commodities News Hot Asset For Today: Gold Gold extended losses to a second session on Monday after strong US jobs data eased worries of an economic slowdown and dimmed the metal’s safe-haven appeal. Fears among Chinese investors over a slowdown in the world’s second biggest economy also hurt prices, with investors […]
Gold bulls have made a pause to the strong upward trend and gold price got rejected near the previous high of $1,355. We recommend you to pay attention to short positions with the stop being very close has proved correct. However, despite the double top and rejection at $1,355, gold price has only briefly broken […]
Gold is picking up more attraction from hedge-fund managers but Goldman Sachs Group Inc. said its astonishing rally this year will slump soon. Hedge funds and other speculators enlarged bets on higher prices for a fourth week in New York futures and are the most bullish since December 2012, government data reported. While gold is slated to its […]
China Data Ensures Poor Start Morning Report: 08:30 London • While the situation in Ukraine continues to stagnate, the other main market worry is rearing its head this morning – China. Chinese and Japanese economic data came in below estimates this morning, with exports a particular concern. • Stock markets have opened the week on […]
Gold futures surged to a slow start on Monday, gliding lower as last week’s jam-packed economic calendar paved way to a long light on scheduled reports. Gold to be delivered in April dropped $5.40 or 0.4%, to $1,332.80 per ounce in electronic trade, while May silver slipped 15 cents or 0.7%, to $20.78 per ounce. Gold futures concluded […]
The job creation data in the US came in well above expectations. US Labor Department reported that the American economy created 175,000 jobs in January. But the worry part is that the unemployment rate jumped to 6.7% from 6.6%. Technical view While I am preparing this report, gold suddenly drops to $1,327.80 from $1,335.0 in […]
Technical outlook and chart setups: 1. Silver stands at 0.382 fibonacci support level at the moment. A push lower would expose $20.00/50 levels which is of more interest to go long. Remain short for now but reduce risk to break even levels. 2. Immediate resistance is at $23.00 followed by $23.50 and higher up, while […]
Technical outlook and chart setups: 1. Gold has backed off again from $1,352.00 levels ahead of $1,361.00. It is quite possible that a top has been formed and the move will be lower from here. It is therefore recommended to remain short, risk remains at $1,359.50. 2. Immediate resistance is at $1,361.00 followed by $1,375.00 […]
GOLD: The commodity may be biased to upside but it must break and hold above the 1,361 level to prevent a return to the downside. This if seen could push GOLD further higher towards the 1,400.00 level, its psycho level. A break will trigger further upside towards the 1,450.00 level, its psycho level and possibly […]
Gold futures dropped lower on Friday, clearing gains seen in the previous session. As traders focus on the release of the monthly US reports due later in the day. The yellow metal for April delivery came in at 0.18% to $1,350.50 on New York’s Comex at the time of writing, while silver futures for April […]
Oil Prices were seen trading higher on the last day of the trading week as the ongoing turmoil in Ukraine continues as Crimea voted to be officially part of Russia and the US imposed sanctions on politicians from Ukraine and Russia. Meanwhile, the market are focused on the US jobs data due later today, as […]
Overview: Since our last analysis, gold has been trading upwards, the price tested the level of 1,353.20 on ultra high volume (buying climax). Our previous analysis is still active and buying at this stage looks risky. The Gold is around our critical resistance area, the price of 1,338.00. We got FR 61.8% at the price […]
Aussie Pulls Ahead As Dollar Declines Morning Report: 09:00 London • This morning, the Australian and New Zealand dollars have extended their recent gains after big plunge in the dollar index yesterday. • Stock markets are steady at the highs while the dollar index continues to slip. […]
March 7, 2014 – Commodities News Hot Asset For Today: Gold Gold went up yesterday after European officials called for the international community to take a harsher stance against Russia – increasing tension in the region. Also, the yellow metal had moved up slightly in anticipation of the Nonfarm Payrolls data today, though it is […]
Gold price made a lower high below $1,355 and is pulling back towards $1,340. Gold price has made a double top that currently favors bearish positions. If this rejection is confirmed we could have a strong downward reversal towards $1,280-90. Short-term resistance is found at $1,355. Short-term support is found at yesterday’s consolidation price range […]
Overview As shown in the today’s H4 chart, the metal failed again to break the Support level of 21.00 to bounce again and trade between the Support level of 21.25 and below the Resistance level of 21.75, and currently it is bouncing from the Support level and starting a bullish move. So we still suggest […]
Gold futures is swerving in a wait-and-see movement on Friday, as is takes a break from latest peak before US nonfarm payrolls to be released today. A day before, gold prices surged to set at $1,351.80, the highest point touched by a most active contract since October 28, as seen in FactSet data. Elsewhere in metals trading, April […]
The first time claims for the US unemployment benefits fell last week to a three month low, but remained little unchanged from a year ago. It fell more than expected and hit a three month low. It’s a good sign of labor market. Initial jobless claims totalled 323,000 in the week ending March 1, a […]
Technical outlook and chart setups: 1. Silver also attempts a rally towards $22.00 levels; this can still be considered as a pullback/retracement of the earlier fall from $22.20/30 highs. It is recommended to continue holding short positions, risk remains at $22.50. 2. Immediate resistance is seen at $23.00 levels, while supports are spread through $20.50, […]
Technical outlook and chart setups: 1. Gold rallies to test recent swing highs at $1,354.00/55.00. A break here would push further and challenge $1,361.00. For now it is recommended to continue holding short positions, risk remains at $1,359.50. 2. Immediate resistance is at $1,361.00, followed by $1,375.00 and higher up, while supports are spread through […]
Overview: Since our last analysis, gold has been trading downwards, the price tested the level of 1,330.80 on average volume. Our previous analysis is still active and buying at this stage looks risky. The Gold is around our critical resistance area, the price of 1,338.00. We got FR 61.8% at the price of 1,338.00 and […]
Australian Dolla Surge Morning Report: 08:45 London • This morning, the Australian dollar is blithely ignoring the tension in Ukraine and surging higher this morning after Australian retail sales and trade balance came in above estimates. The move has also seen the Kiwi dollar lift itself back towards multi month highs. • Elsewhere, stock markets […]
Gold futures missed establishing the previous session’s calm rally on Thursday, surging lower but remaining in a firm range as traders anticipate the main jobs data at the end of the week. Gold to be delivered in April fell $2.60 or 0.2%, to $1,337.70 per ounce in electronic trade. May silver slipped 3 cents or 0.2%, to […]
March 6, 2014 – Commodities News Hot Asset For Today: Gold Gold climbed substantially yesterday after worse than expected ADP employment data came out. Traders felt that this data was foreshadowing a worse than expected Nonfarm payrolls report for Friday and that the US recovery may not be strong enough for the Fed to continue tapering. To […]
Gold price remains above short-term support at $1,320-30 but moves sideways as shown in the chart below. A break above $1,342 will give the bullish trend strength to retest the highs at $1,355 or even make new highs near $1,360. The longer-term trend remains up and Gold price is supported by the trend line and […]
