In Thursday’s trading session gold dropped on Fed’s further QE tapering decision. The minutes of the FOMC policy meeting indicated that the Fed will continue its tapering program unless there is a change in the economic outlook, and profit taking activity weakentd the gold price. In yesterday’s trading session gold exactly took the support of […]
Overview: Since our last analysis, gold has been trading downwards, the price tested the level of 1,308.46 on average volume. This bearish movement may signal the end of the major bullish corrective phase. We saw decreasing volume on upper leg, which casued the price to start bearish phase. The price rejected from our FR 61.8% […]
Slowdown fears spook markets Morning Report: 08.45 London • This morning, financial markets are on the back foot after Chinese, French and then German manufacturing figures all came in below expectations. The S&P 500 fell heavily last night and is seeing some follow through selling, while the dollar index is bidding higher. • The big movers […]
The UBS AG amplified its forecasts for gold this year, denoting a change in U.S. investors’ outlook on the precious metal that snapped back this year on increased haven demand and purchasing from Asian consumers. Bullion’s one-month forecast was escalated to $1,280 per ounce from $1,180, while the three-month postulation was raised to $1,350 from $1,100, analysts Edel […]
Gold price had reached overbought levels, and in our past analysis we mentioned how crucial it was for the bullish trend to hold above support levels at $1,319. Short-term trend has changed to downward as Gold price was making lower lows and lower highs in the 4-hour time frame as shown in the chart below. […]
February 20, 2014 – Commodities News Hot Asset For Today: Gold The price of Gold was traded sideways during yesterday’s trading hours until the FOMC Meeting Report was released and the price dropped to $1,309/ounce. The report from the FOMC Meeting in January showed that Fed wants to continue withdrawing the monetary stimulus by $10 […]
Those who trade gold might benefit from knowing about the wide range of predictions that market participants and experts have been making recently about where the precious metal will go further down the line. In addition, anyone who is interested in investing in the commodity should know that not only does its value fluctuate substantially, […]
In yesterday’s trades gold dropped on profit booking. Regarding the FOMC minutes, we could expect an interest rate hike sooner than expected if the unemployment rate falls below 6.5. With the jobless rate falling faster than expected, even as other labor market indicators show weakness, policy makers agreed it would change rate guidance. The Indian […]
Overview As shown in the today’s H4 chart, the metal has failed more than once to break the Resistance level of 21.75 and is still trading above the Support level of 21.25. Currently, silver is bouncing from the Support level and starting the bullish move. So we still suggest waiting for re-testing the Resistance level […]
Technical outlook and chart setups: 1. Silver is showing quite resilience in holding the $21.40/50 levels as seen here. None the less, prices should come under pressure and move towards $20.50 soon. It is recommended to buy on dips from here on. 2. Immediate resistance is $22.00, while supports are spread through $20.50 (past resistance […]
Technical outlook and chart setups: 1. Gold has moved further low, towards $1,310.00 levels. It is possible that the corrective phase has resumed in the metal and it should reach at least the $1,270.00 region soon. Please note that $1,270.00 region is the convergence point of trendline, fibonacci and past resistance turned support as well. […]
CRUDE OIL: With a follow-through higher on the back of its Tuesday gains seen on Wednesday, further bullish offensive is likely. Further out, resistance resides at 103.50 level, its psycho level where a violation will aim at the 104.00 level, its psycho level and then the 104.37 level, its Oct 03 2014 high. A push […]
Gold prices continues to decline on Wednesday, from its highest level in more than three months as investors expect the Federal Reserve’s (Fed) minutes with predictions the minutes will reveal policy makers backing stimulus cuts despite the weak economic reports. The increased demand for the metal from China; which overtook India as the world’s largest […]
Overview: Since our last analysis, gold has been trading upwards, the price tested the level of 1,325.06 on high churn volume (weak demand). Gold is still in major bullish corrective phase, but we may see possible end of that bullish corrective phase. We can observe decreasing volume on upper leg,which is a sign that we […]
February 19, 2014 – Commodities News Hot Asset For Today: Gold The price of Gold slid down from almost $1,330/ounce to $1,313/ounce yesterday as traders closed their long positions after the price reached a 3 ½ month maximum. The price then started to move sideways and currently is trading around $1,318/ounce. Gold as a safe-haven […]
Dollar pairs slip back Morning Report: 08.45 London • . This morning, financial markets generally have a negative bias after the effect of the US storms start to be revealed. Stock markets are just about holding gains, while the dollar index continues its down swing. • Commodities are on the back foot, with Silver experiencing some major […]
Gold price has fallen towards its first short-term support at $1,312 and has reached our target of reaching the lower channel boundaries. Gold price remains in intermediate-term uptrend and above the 4-hour Ichimoku cloud support. The double bottom in the 4-hour chart as shown above could prove bullish if Gold price makes a new higher […]
Silver futures posted the longest rally in 45 years on as demand for the haven asset increased, despite concerns the global economy will falter. The US home builder and New York manufacturing data traced postulations by analysts. The Bank of Japan hyped lending programs while retaining its plan for unprecedented asset purchases to assist a recovery. Commodities advanced to […]
Gold futures stretched its drop from the highest level in more than three months despite expectations the US Federal Reserve minutes will reflect policy makers supporting additional stimulus cuts. Silver touched the longest rally in four decades. Bullion to be delivered immediately lost about 0.6% to $1,314.49 per ounce and was trading at $1,315.81 by 2:26 p.m. in Singapore. […]
February 19, 2014 – Commodities News Hot Asset For Today: Gold The price of Gold slid down from almost $1,330/ounce to $1,313/ounce yesterday as traders closed their long position after the price reached its 3 ½ month maximum. The price then started to move sideways and currently is traded around $1,318/ounce. Gold as a safe-haven […]
After soft economic data, gold rebounded from the lower levels of $1,312. Gold recovered during the European trading session. The US dollar weekened after the Federal Reserve Bank of NY said that the general business conditions index came in at 4.48 for the current month vs 12.51 in January. Gold is moving against all the […]
Technical outlook and chart setups: 1. Silver produced a doji yesterday, that is indicative of a potential down move from here. Please note that any fall from here would be corrective and opportunity to go long. Aggressive trading setup would be to initiate short positions at the $21.75 levels, risk remains just above $22.00. 2. […]
Technical outlook and chart setups: 1. Gold has given its first signal of a potential retracement built up. Having reversed from $1,333.00, the metal is expected to retrace at least towards $1,270.00/75.00 region. It is recommended to initiate short positions around $1,227.00/28.00 today, risk remains at $1,235.00. 2. Immediate resistance is at $1,360.00, while supports […]
Overview Today’s H4 chart shows that the metal is still trading between the support level of 21.75 and below the resistance level of 21.75 after its failure to break the resistance level yesterday to continue the upward trend. Today, silver bounced from the resistance level to take a slightly downward move and trade below it. […]
Overview: Since our last analysis, gold has been trading downwards, like we expected, the price tested the level of 1,312.42 on average volume. Gold is still in major bullish corrective phase, but we may see possible end of that bullish corrective phase. We can observe decreasing volume on upper leg, which is a sign that […]
The two most-accurate gold forecasters are holding to their bearish estimates for 2014 even after the metal recorded its best opening to a year since 1983. Futures rallied 9.7 percent in 2014 through February 14, bouncing back from the largest yearly decline in three decades, and achieved a three-month high. Holdings in exchange-traded goods supported […]
February 18, 2014 – Commodities News Hot Asset For Today: Gold The price of Gold stopped its bullish sentiment yesterday and due to a lack of data (due to U.S. President Day) started to move sideways. The price tested its resistance at $1,330/ounce but lost momentum and dropped to $1,318/once. The recent drop is most […]
Commodities Slip as China Takes Action Morning Report: 08.30 London • This morning, China acted in a surprising manner to head off a boom in lending by draining liquidity from the system. The move has caused precious metals to fall heavily, with the Australasian currencies also under pressure. • Silver is off by 1.28%, with gold […]
Gold price finally reached our long-term downward sloping trend line as shown in the chart below and reversed. In our previous analysis we mentioned that there was increased chances of a pull back since Gold price has reached an overbought level and our target price. Gold price after reaching $1,332.50 has reversed and is now […]
Gold demand dropped 15% to its four-year low in 2013 as American investors snappily trimmed holdings of the precious metal, the World Gold Council said on Tuesday. Last year, the bullion sustained its largest drop since 1981, losing more than a quarter of its value as decade-long bull rally ended. Since then, it has regained some ground, […]
