February 26, 2014 – Commodities News Hot Asset For Today: Gold Gold and prices ended the day solidly up and scored four-month highs. The markets were boosted by slowly improving technical pictures. Gold saw increasing safe-haven demand amid geopolitical concerns, gold still continues to be seen as a safe trade. The situation in the Ukraine […]
The rise in Gold price has continued above $1,340 as well as the divergencies in RSI as can be seen in the 4-hour chart below. The trend remains up. The negative divergencies can continue for more time as Gold price rises and breaks above resistance levels. Next upward target is $1,360. Short-term support is found […]
Gold prices relaxed just fractionally on Wednesday, taking a little breather from the metal’s stable attempt on higher ground despite relentless economic concerns. The most recent call to buy came from sluggish home price profits in December. Gold to be delivered in April sank $1.70 to $1,341.00 per ounce in electronic trade, still precise on where it was […]
Chinese uncertainty contains markets Morning Report: 08.45 London • This morning, financial markets are still subdued after a lack lustre session on wall street and uncertainty over the direction that Chinese policy makers may be taking. The Chinese renminbi has now fallen for the seventh straight day despite the controls apparently placed on it by officials. […]
Gold rallied again on Tuesday’s trading session after The Conference Board Consumer Confidence Index was released. The index, which had increased in January, fell moderately in February. Now it stands at 78.1, down from 79.4. The decline in the Consumer Confidence Index resulted concerns over the short-term outlook for business conditions, which affect hiring and […]
Technical outlook and chart setups: 1. Silver is stalling ahead of $23.00 levels for now. It is quite possible that it pushes through $23.00 levels before producing a meaningful pullback. It is recommended to remain flat for now and await for reaction ahead of $23.00 levels. 2. Immediate resistance is at $23.00, followed by $25.00, […]
Technical outlook and chart setups: 1. Gold is approaching the $1,360.00 levels, indicating that bulls are in control for now. A meaningful retracement can be expected after that. It is recommended to remain flat for now and await for a reaction around $1,355.00/60.00. 2.Immediate resistance is at $1,360.00, followed by $1,380.00 and $1,420.00, while supports […]
CRUDE OIL: With failed bull pressure seeing Crude Oil selling off during Thursday’s trading session, further weakness could still be developing. However, as long as it can hold above the 101.37 level, its Feb 12 2014 high, a return to the upside is likely. Further out, resistance comes in at 103.50 level, its psycho level […]
Overview: Since our last analysis, gold has been trading upwards, the price tested the level of 1,338.95 (FR 61.8%) on ultra high volume (buying climax). The Gold is on 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. We can observe ultra […]
Gold bulls should be very cautious as price stalls near the $1,340 resistance. The trend remains bullish but bulls should raise their stops to $1,330. Short-term support is at $1,330 and short-term resistance at $1,340. Gold price remains above the upward sloping trend line and support and above the Ichimoku cloud support. The RSI is […]
Gold prices dropped from its sixteen-week week high on Tuesday while the crisis in Ukraine continues to weigh on the metal, slowing bullion demand at higher prices. Gold for immediate delivery declined 0.1% to $1,335.83 an ounce at the time of writing. The precious metal climbed to its highest since October 31, reaching $1,340.04 earlier […]
Chinese Currency Slumps For Sixth Straight Day Morning Report: 08.45 London • This morning, China is under renewed pressure as its currency slides for the sixth straight day. The move is putting pressure on commodities and commodity related currencies. • Silver is down 0.77%, while the gold is off by 0.18%. • The Aussie dollar is also […]
Gold futures reported near a 16-week high, even as some investors seen the rally excessive on anticipations the Federal Reserve will retain its plan to cut down US stimulus. Bullion to be delivered immediately was settled at $1,336.68 per ounce at 9:29 a.m. in Singapore, previously $1,336.98, when prices touched $1,339.09, the most since October 31. The […]
Chinese home prices slowed down for the first time in 14 months in January. Data released yesterday revealed that home prices in major 70 Chinese cities rose 9.6% compared to 9.9% in the previous month. The gold price came attractively after the soft data, concerns over the housing market and growth in US and global […]
Technical outlook and chart setups: 1. Silver has taken out resistance at $22.06 yesterday. A meaningful pullback is awaited now. The metal remains in control of bulls but trading recommendations are to buy on dips from here on. Levels of interest are $20.00/50. 2. Immediate resistance is around $23.00. The bulls might be wanting to […]
Technical outlook and chart setups: 1. Gold rally stalls for now at $1,338.00/39.00 levels. A meaningful retracement lower should be due now or from $1,360.00. It is recommended to remain flat for now and wait for early signals to reverse lower. 2. Resistance is at $1,360.00 for now and a push through $1,340.00 would indicate […]
Overview Last week we expected that the metal takes an upward move in case of closing above the resistance level of 21.75 Today, as it is shown in the H4 chart, the metal took a slightly upward move after breaking the Resistance level and managed to close 4H above it. Currently, it is approaching the […]
Overview: Since our last analysis, gold has been trading upwards, the price tested the level of 1,334.16 on volume above the average. The Gold is on critical resistance area and the levels of 1,335.00 (FE 100%) and 1,337.00 (FR 61.8%) are very important. We can observe decreasing volume on upper leg, which is potential sign […]
Markets slip on Chinese lending slowdown fears Morning Report: 08.45 London • This morning, financial markets have a slight negative edge on fears that Chinese banks are pulling back lending to the real estate sector. The S&P 500 is caught in a trading range, not helped by ongoing uncertainty in Ukraine. • On FX markets, the […]
Gold price has broken the short-term downward sloping red trend line resistance as we noted in our last analysis. This helped Gold price form a short-term bottom and reversal pattern that suggested the price would reach previous highs. We mentioned in our last post that Gold price was supported by the Ichimoku cloud indicator and […]
February 24, 2014 – Commodities News Hot Asset For Today: Gold On Friday Gold prices traded higher by 0.13% against the USD towards the end of the session, at $1323.95/ounce, as a lackluster housing data from the US and violence in Ukraine bolstered the safe-haven appeal Gold. Following the G20 meeting in Australia on the […]
Gold futures dived after its three-week peak as a technical gauge waved a reversal and on worries the higher prices will wound physical demand in Asia. Silver, platinum, and palladium dropped. Bullion to be delivered immediately missed 0.4% to $1,318.79 per ounce and was set at $1,321.57 at 10:07 a.m. in Singapore. Prices touched $1,332.45 on February […]
The US existing home sales declined 5.1%. It declined sharply in January from December, to 4.62 million units. The sales were down to the lowest level in 18 months. Starting this year, the US economic data were printed below expectations such as jobs data, building permits and other economic indicators. On the other hand, the […]
GOLD: With GOLD maintaining its upside bias, we expect further strength to occur in the new week. However, it will have to retake the 1,332.09/1,328.00 levels to create scope for more upside. Further out, resistance resides at the 1,350.00 level with break of here turning focus to the 1,400.00 level. Additionally, resistance stands at the […]
Overview: Since our last analysis, gold has been trading upwards, the price tested the level of 1,324.76 on lower volume. Our previous analysis is still valid. The price stopped at FR 61.8% (1,322.00). We can observe low volume demand around the price of 1,323.00, which is the sign that buying at this stage is risky. […]
Gold price has broken above the downward sloping trend line resistance and is now making a try to reach previous highs. This upward move that started after the low at $1,306 is most liekly to be the beginning of a new upward move that could push the Gold price towards $1,400. Gold price is trading […]
Overview As shown in the today’s H4 chart, the metal is stabilizing above the Support level of 21.25 after its failure to break the Resistance level of 21.75 again. Currently, we should wait for re-testing the Support level again and closing below to get the bearish opportunity. In that case, we will get a good […]
February 21, 2014 – Commodities News Hot Asset News For Today: Gold The price of Gold slightly increased yesterday to $1,325/ounce after the American session finished. The movement up was probably cause by speculation about the G20 meeting and situation on emerging markets. Then as the Asian session started we saw reversal and currently the […]
Markets march on after volatile week Morning Report: 08.45 London • Markets are mixed this morning with various cross winds buffeting market dynamics, but ultimately the bull run in equities appears to be still in rude health. The S&P 500 is no set for its highest close since the end of January, while the dollar index […]
Gold futures edged higher in electronic trading on Friday, breaking a string of losses, although silver stretched its move lower. April gold futures nailed $1.20 or 0.1%, to $1,318.10 per ounce, snipping its $3.50 loss yesterday on the New York Mercantile Exchange’s Comex. March silver plunged 6 cents or 0.3%, to $21.63 per ounce, following a 17-cent loss […]
