December 4, 2014 – Commodities News Gold Yesterday, Gold ranged between $1,190/ounce and $1,215/ounce. The metal has remained above $1,190 despite the appreciation of the Dollar. Investors are choosing to hold on to the safe haven asset due to caution ahead of the ECB decision. Consequently, make sure to watch the ECB Press conference at […]
Market Pause Morning Report: 9.00 London • Markets are taking are pausing for breath this morning, with the dollar index still holding the highs and the S&P 500 poised to break to even higher levels. […]
Market Pause Morning Report: 9.00 London • Markets are taking are pausing for breath this morning, with the dollar index still holding the highs and the S&P 500 poised to break to even higher levels. […]
Gold price consolidates near the recent highs above $1,200. If short-term support at $1,200-$1,190 holds, then we could see another break out towards $1,260-$1,270. If support fails, we should push lower towards $1,170. A bullish flag is being formed and a break out above $1,215 will give us a buy signal. Gold price is consolidating […]
Technical outlook and chart setups: Silver has been drifting around $16.40.60 levels since yesterday. The metal is expected to drop lower towards $15.30 or even up to $14.90 levels before rallying further up. Furthermore, there seems to be a convergence around $15.50/60 and $14.90 levels of the retracement and extension levels, indicating a strong possibility […]
Technical outlook and chart setups: Gold is expected to form a gartley, before rallying to higher levels. The metal is seen trading around the $1,204.00/06.00 levels at the moment. A drop below $1,190.00 would suffice minimum requirement and optimum level for the next low would be $1,174.00 levels. As depicted here, a convergence is also […]
The yellow metal gained momentum after the soft ADP jobs data. Today, the focus has shifted to the US unemployment data and ECB press conference. At yesterday’s session, we recommended buying at $1,200.50 with the target at $1,207.00. The metal made high at $1,214.70. The support levels shifted to $1,202.00 and $1,199.00. Today, a positive […]
Overview : Since our last analysis, gold has been trading sideways around the price of 1,205.00. We are waiting for larger volume and stronger price action. According to the daily time frame, we can obesrve demand in an ultra high volume (buying climax) in the background, which is a sign that buying at this stage […]
Gold dropped with expected improvements in the US labor market seen to boost outlook for higher interest rates, strengthening the dollar and weakening demand for the metal right before the European Central Bank (ECB) meets. Spot gold fell by as much as 0.2% for a price per ounce of $1,206.87 and was trading mid morning […]
December 3, 2014 – Commodities News Gold Yesterday, Gold decreased slightly and fell below $1,200/ounce. The previous shock caused by low oil prices subsided and demand for the metal declined. The downwards movement was also supported by the stronger dollar which appreciated after a speech from the Vice Chairman of the Fed, Stanley Fisher. Fisher […]
Global Growth Prospects Diminish Morning Report: 7.15 London • This morning, markets are on the back foot on signs that global growth may still be struggling. In the early hours of the morning, Australian GDP grew much less than expected, while Spanish PMI saw its lowest rise for more than a year. Unsurprisingly, the dollar […]
Global oil benchmarks West Texas Intermediate and Brent advanced for the second time in three days behind outlook that the decline caused by the Organization of Petroleum Exporting Country’s decision to not reduce its production levels was deemed excessive. Futures for Brent, the European benchmark, with a delivery date in January rose by as much […]
Gold traded just under its highest in five weeks with the strength of the dollar dampening demand for a value store after a policy maker in the US said that the Federal Reserve may reconsider its previous intent to hold interest rates at their current low for an extended period of time. Spot gold alternated […]
The yellow metal was under pressure of the strong US data in yesterday’s session. Today the focus has shifted to US ADP non-farm unemployment change data, ISM non-manufacturing PMI and ECB press conference. In yesterday’s data, the US construction spending beat estimates, posting its largest gains in 5 months. In case, if the US posts […]
Gold Briefly Glitters Morning Report: 7.15 London • Precious metals are heading back down again this morning after a short term surge yesterday. Commodities across the board are following suit. […]
Gold declined after going through its best single day rally in over a year with investors assessing the situation of the dollar strengthening against an oil price recovery. Spot gold fell by as much as 0.7% for a price per ounce of 1,203.45 and was trading mid morning Singapore time at $1,205.47, based on generic […]
December 1, 2014 – Indices News U.S. stocks ended the week lower. Volatility was low and the session cut short due to the Thanksgiving Holidays. Energy shares were hit as oil prices plummeted on the back of OPECs decision not to cut production; Exxon, for example, lost 4.17%. Transportation companies, however, benefited from the prospect […]
Commodity Rout Continues Morning Report: 7.15 London • This morning, commodities are continuing their recent sell off, dragging commodity related currencies with them. The Australian dollar is down 0.73% against the US dollar and 0.60% against the yen. Meanwhile, the NZD/USD is down 0.26% and the USD/CAD up 0.19%. […]
Commodities of various kinds sank to a five year low behind outlook towards a global oversupply with a Swiss referendum on gold being rejected by voters and economic indicators from China, the largest user of metals and fuels, showing a continued slowdown. The Bloomberg Commodity Index that tracks 22 raw materials fell by as much […]
Gold prices declined after voters in Switzerland chose to turn down a referendum that would have forced its central bank to hold more of the precious metal, continuing its fall to the lowest in five years. Spot gold retreated by as much as 2.% for a price per ounce of $1,142.88, its lowest value since […]
The Swiss franc declined versus the euro early Monday following the Swiss National Bank guaranteed its vow to cap the currency as voters refused proposals to bolster the central bank’s gold reserves. The “Save our Swiss gold” initiative could have pressed the SNB to boost its gold reserves to 20% of its assets, from about […]
GOLD: With a sell off occurring on GOLD the past week, further bearishness is now envisaged. If this occurs, a recovery higher could occur toward the 1,150.00 level. On the downside, support stands at the 1,130.00 level where a break will aim at the 1,100.00 level. Below here if seen could trigger further downside towards […]
Overview : Since our last analysis, gold has been trading downwards. As we expected, the price tested the level of 1,179.14 in a average volume. According to the daily time frame, we can can observe low activity on the market. Our Fibonacci retracement 38.2% at the price of 1,179.00 is on the test so be […]
Editor’s note: You’ll find the text version of the story below the video. I came across this sentence in an article about gold: Nobody expects gold prices to turn up soon… Another observer put it this way: There doesn’t seem to be anything on the horizon that will make gold prices go up. It would […]
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Overview As it is seen in today’s H4 chart, the metal is stabilizing above the Support level of 16.00 after breaking the Support level of 16.50 yesterday. Currently, we should wait for retesting the Support level again and closing below it to get the bearish move opportunity. In that case, we will get a good […]
Japanese yen pressuredas inflation dips Morning Report: 7.15 London • This morning, the Japanese yen is under pressure once again after Japanese core inflation dropped just weeks ahead of crucial elections for PM Shinzo Abe. The USD/JPY is up 0.18%, with many other yen pairs following suit. […]
November 28, 2014 – Commodities News Gold Yesterday, Gold fell sharply and moved towards $1,180/ounce. The metal was driven by the stronger U.S. Dollar and by dropping oil prices. Oil slumped to a fresh 4 year low, adding increased pressure to deflation and in turn making gold an unwanted asset. The decline occurred despite the […]
Gold price continues to look weak as it has broken below $1,190 and is making lower lows and lower highs. The rounding top at the 61.8% retracement is an early bearish signal that will get confirmed if $1,174 is broken. The short-term target will be $1,140. Red line = resistance Blue line = critical support […]
