Technical outlook and chart setups: 1. Gold takes out the recent swing highs at $1,279.00 early morning today. The next challenge for bulls is $1,294.00/95.00 levels. We have been stopped out and recommendations are to remain flat for now. Please note that the metal is out of the channel line resistance since last 2 trading […]
CRUDE OIL: With Crude Oil strengthening for a third week in a row the past week, further upside is envisaged in the new week. This development leaves it targeting further upside towards the 100.74 level, its Dec 27 2013 high. A cut through here will pave the way for a run at the 101.50 level […]
Gold prices were seen trading higher on the first day of the trading week, driven by speculation that the Federal Reserve (Fed) could slowdown scaling back its easing policy and the release of the US jobs data which missed estimates. Bullion for April delivery were seen higher for the second straight session, rising 0.60% higher […]
Markets slip back after positive Friday Morning Report: 08.45 London • Risk markets are mixed this morning as equities hold on to Friday’s gains, while the main risk-on FX pairs are on the back foot. • The AUD/JPY is down 0.60%, with the AUD/USD off by 0.38%. […]
Gold futures accelerated on Monday as Chinese investors resumed a full week of trading, following their Lunar New Year holiday that kept them out most of last week. Gold to be delivered in April gained $5.80 (or 0.5%), to $1,268.70 per ounce. March silver nailed 7 cents (or 0.4%), to $20.01 per ounce. “The reopen […]
Crude oil trading resulted in futures for the commodity rising to their highest value in one month on Feb. 6. Brent crude contracts on the ICE Futures exchange rose 0.9 percent to reach $107.19 a barrel, according to The Wall Street Journal. Futures for light, sweet crude gained 0.5 percent to rise to $97.84 per […]
GOLD: Risk is now building up on the 1,279.08 level, its Jan 27 2014 high. This is coming on the back of its past week gains. A decisive break and hold above the mentioned resistance will pave the way for a run at the 1,300.00 level, its big psycho level. A clearance of here if […]
Futures for gold were seen climbing on the last day of the trading week before data for US job data including non-farm payrolls and unemployment rate figures. The data is expected to be released later in the day. The yellow metal is rising towards its sixth weekly gain. Bullion for March delivery rose 0.37% trading […]
Crude Prices were seen trading slightly mixed on Friday as analysts awaits US jobs reports later in the day. WTI for March delivery came in 0.15% lower trading at $97.70 per barrel on the New York Mercantile Exchange at the time of writing, at the same time Brent for March settlement gained 0.18% to $107.39 […]
Were January Payrolls a Blip? Morning Report: 08.45 London • Markets are generally subdued this morning ahead of US Non Farm Payrolls at 13.30. Expectations have been diminished factoring in the extreme January weather, but coming on the back of a poor reading last months, traders will be looking for some good news. • […]
February 7, 2014 – Commodities News Hot Asset For Today: Gold The price of Gold reacted on disappointing U.S. data and reached $1,266/ounce, however, the sentiment changed immediately and the price dropped to $1,252/ounce. As the China market reopened after week the physical demand strengthened and pulled the price up above $1,263/ounce. The price is […]
Treasuries decline, sending 10-year yields up from almost a three-month low, and U.S. stocks closed in a downbeat statement as investors dissected reports showing progress in jobs and acceleration in service industries. Silver and gold paced advances in commodities. Ten-year yields skyrocketed four basis points to 2.67 percent while the S&P 500 backslide 0.2 percent […]
Aussie boosted by surprise surplus Morning Report: 08.45 London • Markets have a positive edge this morning, helped a surprise surplus in the Australian trade balance. • The AUD/USD is up 0.40%, with the AUD/JPY up 0.34% with the pairs also helped by strong retail sales data. […]
Gold held gains after reaching the highest level for more than a week, as speculation the US economic recovery may be boosting haven demand. Bullion, to be delivered immediately, listed at $1,257.96 per ounce at 9:04 a.m. (Singapore time), from $1,257.92 yesterday when prices touched $1,274.74, the highest since January 27. The gold profited 3.2% […]
Technical outlook and chart setups: 1. Silver seems to have resumed towards fresh swing highs as expected. A morning star was produced at sub $19.00 levels indicating a reversal. It is recommended to hold long positions and look to add further on dips. It is possible that prices remain between $19.00-$20.00 before final thrust on […]
Technical outlook and chart setups: 1. Gold has tested recent swing high at $1,279.00 before falling back sharply. Indications from here are pointing low towards at least $1,215.00. It is still recommended to hold short positions, risk remains at $1,282.50. 2. Immediate intermediary resistance is at $1,279.00, followed by $1,290/95, while supports are at $1,230.00, […]
GOLD: With attempts of resuming its short term uptrend failing on Wednesday for a marginal higher close, consolidation above its broken falling trendline may continue. If however GOLD retakes the 1,279.08 level, its Jan 27 2014 high to create scope for more upside the 1,300.00 level, its big psycho level will be targeted. A clearance […]
Overview: Since our last analysis, gold has been trading upwards. The price tested the level of 1,252.20 on lower volume. Our previous analysis is still valid and if the price breaks the area of 1,266.00 on higher volume, we may expect further bullish movement and continuation of the bullish corrective phase. Otherwise, if the price […]
February 5, 2014 – Commodities News Hot Asset For Today: Gold After the price of Gold sharply increased to $1,266/ounce on Monday afternoon the price reversed and dipped to $1,248/ounce as the U.S. Factory Orders came out slightly better than expected. The price of Gold also reacted to the good performance of U.S. stocks and declined […]
Yen dampens rebound Morning Report: 08.45 London • After a muted recovery yesterday, markets are once again looking shaky this morning. There is not movement to speak of on stock markets, but the lack of a compelling rebound could be telling. • The biggest mover is the AUD/JPY, as the Aussie’s post rally sell off […]
Panic is making an enemy of telephones for Catherine Yeung, the director for equities at Fidelity Investment Management Ltd. in Hong Kong. “My children hate that BlackBerry,” said Yeung, whose clients have been calling amid two weeks of declines that erased $3 trillion from global stocks. She’s advising calm, noting that profits are rising and […]
Gold price continues to trade below important resistance at $1,270 and above important support at $1,230. The current decline from $1,279 is not a clear impulsive move, so unless prices start a decline soon towards $1,220-$1,200 then we could say that this small downward move is part of a bigger upward correction that could push […]
Technical outlook and chart setups: 1. Silver remains more or less unchanged since yesterday. After creating a higher low at sub $19.00 levels it could be preparing for the next rally towards $21.00/22.00. It is recommended to hold long positions. The risk remains at $18.50. 2. Immediate resistance is at $20.50 (intermediary) followed by $21.00 […]
Technical outlook and chart setups: 1. Gold has rallied through the $1,266.00 levels before pulling back. Please note that the 0.618 fibonacci resistance is also at $1,266.00. A reversal now could bring prices lower towards $1,218.00. It is recommended to remain short; the risk remains at $1,285.00. 2. Immediate resistance is at $1,279.00 (intermediary) followed […]
CRUDE OIL: With Crude Oil halting its two-day weakness and recovering higher on Tuesday, the risk is for a retake of the 98.58 level, its Jan 30 2014 high to occur. Further out, resistance comes in the 99.38 level, representing its Dec 31 2013 high. A turn above here will set the stage for more […]
Overview Based on the H4 chart, silver is stabilizing below the Resistance level of 19.50 after its rebound from the Support level of 19.00 yesterday. If silver reverses its bullish move due to this Resistance level and manages to break the Support level of 19.20, this will give a strong indicator for the downward move and […]
Crude oil prices bounced back from its lowest closing level in almost a month on Tuesday, driven by the downbeat Chinese and US data, signaling signs that demand may drop in the future. The North American West Texas Intermediate (WTI) climbed 0.18% higher to $96.90 per barrel on the New York Mercantile Exchange. At the […]
Overview: Since our last analysis, gold has been trading upwards. The price rejected from our corrective FE 161.8% at 1,266.00 and tested the level of 1,252.20 on high volume. If the price breaks the level of 1,238.00 on higher volume, we may see the testing of the level of 1.222.00 (FE 161.8%). Anyway, if the […]
February 4, 2014 – Commodities News Hot Asset For Today: Gold Price of Gold sharply increased to $1,266/ounce after the U.S. ISM Manufacturing PMI came out very low and show just 51.3 instead of expected 56.2. We saw the price jumping by $15/ounce immediately after the release. The price has been ranging since that between […]
Despite the upward move yesterday in Gold price, short-term trend remains down as Gold price did not manage to make a higher high and did not manage to break above the downward sloping trend line resistance that connects $1,279 and $1,270. Short-term support and critical pivot point for the trend is the lows as noted […]
