Overview As shown from the today’s H4 chart, the metal is stabilizing above the Support level of 21.25 after its failure to break the Support level of 20.90 last week to bounce again from it. Currently we must wait for re-testing the Support level again and closing below to get the bearish move opportunity. In […]
Overview: Since our last analysis, gold has been trading upwards, the price tested the level of 1,350.09 on average volume. Our previous analysis is still active and buying at this stage looks risky. The Gold is around our critical resistance area at the price of 1,338.00. We got FR 61.8% at the price of 1,338.00 […]
Hedge funds increased bullish gold wagers to the topmost mark in more than 14 months in the middle of surging concern that the U.S. economic recovery is in declining state. The net-long position spiked up 25 percent to 113,911 futures and options in the week ended February 25, the peak point since December 2012, U.S. […]
Gold price has broken above the short-term resistance at $1,335 and is now making a higher high above $1,340. We expect this upward move to continue towards $1,360 where the next important resistance level is. For this uptrend to remain valid, Gold price must remain above the upward sloping blue trend line that coincides with […]
Ukraine Tensions Push Gold to Five Month High Morning Report: 08.45 London • This morning, escalating tensions in the Crimea and Ukraine have pushed gold to its highest level for five months. As Russian forces essentially occupy the Crimean peninsula, diplomatic tensions are rising as the US warn of consequences, while Russia looks after its strategic […]
Gold futures surged higher on Monday as it continues to what has been a banner rally year for the precious asset amid a slender hiccup last week. Gold to be delivered in April moved $21.10 or 1.6%, to $1,342.70 per ounce in electronic trading. May silver gained 23 cents or 1.1%, to $21.47 per ounce. Last week, gold […]
March 03, 2014 – Commodities News Hot Asset For Today: Gold Price of Gold finished on Friday lower as most of the traders took their previous profits out. The price slid fro $1,332/ounce to $1,320/ounce. However, the world was watching during the weekend the situation in Ukraine and steps of Russia. As the tension has […]
The US government revised its economic growth for the fourth quarter as consumer spending and exports were less than calculated before. The annual GDP expanded 2.4%, down from 3.2%. On Friday, gold dropped on Yellen’s comments. Gold is very bullish on Monday in Asia as Ukraine’s crisis deepens. If there is military action, then gold […]
Technical outlook and chart setups: 1. Silver might have formed an intermediary top at $22.30. Minimum implications are for a pullback towards $20.50/20.00 levels and then resumption of rally. It is recommended to initiate/remain short for now, risk remains at $22.75. 2. Immediate resistance is at $23.00, followed by $23.50, while supports are spread through […]
Technical outlook and chart setups: 1. Gold rallies to test recent highs at $1,345.00 levels. A push through it, will take prices towards $1,355.00/60.00. For now, it is recommended to remain short, risk remains at $1,349.50. 2. Immediate major resistance is at $1,360.00, followed by $1,370.00/80.00, while supports are spread through $1,307.00, followed by $1,280.00/70, […]
GOLD: Vulnerable To The Downside GOLD: GOLD remains vulnerable to the downside having continued to maintain below the 1,345.28 level. We believe its present bear threat is temporary suggesting it will fade and return to mentioned level. However, it will have to retake the mentioned level to annul its present bear threats. Further out, resistance […]
Overview: Since our last analysis, gold has been trading sideways, around the price of 1,330.00. Our previous analysis is still active and buying at this stage looks risky. The Gold rejected from our critical resistance area at the price of 1,338.00. We got FR 61.8% atthe price of 1,338.00 and that level held successfully, which […]
February 28, 2014 – Commodities News Yesterday, the price of gold first rose due to tension in Ukraine and climbed from $1,325/ounce to $1,333/ounce. Secondly, the gold went up after Yellen’s cautious comments yesterday, the pair has been fluctuating today after retracing a little of its gains during the Asian session. Right now, the pair […]
Gold price has back tested the broken support trend line and is now moving lower to test the short-term low at $1,325. Gold price has made a lower high at $1,335 and this is a bearish sign. The inability of bulls to break above $1,340 has pushed the precious metal lower. As long as Gold […]
The London gold fix, the benchmark followed by jewelers, miners and central banks to distinguish the worth the metal, may have been controlled for a decade by the banks setting it, researchers say. Unusual trading patterns around 3 p.m. in London, when the so-called afternoon fix is set on a private conference call between five […]
Asia worries keep bulls under pressure Morning Report: 08.45 London • This morning, poor data from Japan and more selling for China’s currency have set a negative tone for the morning session. In addition, markets still have a ‘risk-off’ tone as the situation in Ukraine develops.• Stock markets are managing to cling to the highs, while the […]
Jobless claims rose more than expected. The indicator climbed last week to one-month high. Yellen said the Fed would watch carefully the signs of further growth to remain. These factors made the US dollar weaker and gold jumped to the crucial resistance level at $1,336.0. In our yesterday’s report we stated, until gold crosses the […]
Technical outlook and chart setups: 1. Silver is preparing pullback towards $21.70/80 levels from here. It is recommended to initiate short positions there, with risk around $22.50. A meaningful retracement is expected lower towards $20.50/00. 2. Immediate resistance is at $22.20/30 (intermediary), followed by $23.00, while supports are spread through $20.50/00 (fibonacci retracement), followed by […]
Technical outlook and chart setups: 1. Gold is pulling back towards $1,336.00/38.00 levels at the moment. Please note that these are intraday/interday resistance levels and recommendations are to initiate short positions there. Risk remains at $1,348.50. 2. Immediate resistance is at $1,361.00, followed by $1,375.00, while supports are spread through $1,307.00, $1,230.00/20.00, $1,210.00 and lower […]
Overview: Since our last analysis, gold has been trading downwards, just like we expected, the price tested the level of 1,322.26. The Gold rejected from our critical resistance area at the price of 1,338.00. We got FR 61.8% at the price of 1,338.00 and that level held successfully, which is a good sign for the […]
Gold futures were seen trading nearly flat on Thursday, dropping from a four-month high seen in the previous session as sales in new homes in the US climbs to a five-year high and market participants focus on the Federal Reserve (Fed) Chair Janet Yellen upcoming testimony later in the day. Gold futures for April delivery […]
Gold price has reversed from the 61.8% retracement level at $1,340. Gold price has turned lower as the divergencies in RSI indicator were signalling weakness. The downward move has broken the short-term supportive trend line and Gold price is heading towards the Ichimoku cloud support. Short-term support is found at $1,320-14. Short-term resistance is found […]
Gold held drop from the highest peak in 17 weeks as US housing data that exceeded estimates supported anticipations the Federal Reserve will retain its plan to cut down stimulus. Bullion to be delivered immediately traded at $1,328.70 per ounce at 8:52 a.m. in Singapore, previously $1,330.57, when the metal touched $1,345.46, the highest since October 30. […]
Aussie Doubts Linger Morning Report: 08.40 London • Despite China enjoying a positive session this morning, the Australian dollar is in the doldrums. Private Capital Expenditure came in well below estimates, with its biggest drop since late 2010. The AUD/JPY is down 0.53%, with the AUD/USD down 0.40%. • The NZD/USD is performing well by contrast. […]
Technical outlook and chart setups: 1. Silver pulls back ahead of $23.00 level yesterday. It is recommended to use this fall as opportunity to initiate long positions around $20.50/00 levels. Aggressive trade setup is to initiate short positions around $21.80 region, risk is $22.50. 2. Immediate resistance is at $23.00, followed by $23.50, while supports […]
Technical outlook and chart setups: 1. Gold finally gives in to lower side, just ahead of major resistance at $1,361.00 level. A meaningful retracement can now be expected hence aggressive trading recommendations are to initiate short positions between $1,336.00 and $1,338.00. Risk remains at $1,348.50. 2. Immediate major resistance is seen at $1,361.00/62.00, followed by […]
Gold finished its 4-day rally. Gold fell from its overbought levels almost 1%. The US dollar became stronger after the new home sales data printed above expectations. The recent rally in gold was made by weak economic data posted recently. Continuing weak economic data from the major economies is indicating shifting funds towards safe heavens. […]
Overview From today’s H4 chart we see that the metal is still trading between the support level of 21.25 and below the resistance level of 21.75. Silver failed to break the resistance level yesterday and bounced from it. It took a slightly downward move and currently it is retesting the support level of 21.25 again. […]
Gold prices were seen trading flat on Wednesday; holding on to gains seen in the previous session, the US dollar edged lower following the release of the downbeat US consumer confidence reports. Traders are keeping an eye on the expected US housing report due later today, while a speech from Boston’s Federal Reserve (Fed) President […]
Overview: Since our last analysis, gold has been trading upwards, the price tested the level of 1,345.33. The Gold is around critical resistance area at the price of 1,338.00. We got FR 61.8% at the price of 1,338.00 and that level is critical. According to daily chart, we can see average volume and low range […]
