Gold prices were seen trading mixed on Wednesday as traders continue to speculate on whether the US Federal Reserve will raise interest rates after assets in the world’s largest exchange-traded fund posted its longest fall this year. Gold for immediate delivery slid by almost 0.3% and stood at $1,167.74 an ounce at 3:39pm, according to […]
November 12, 2014 – Commodities News Gold Gold benefited from the weaker dollar and managed to increase from $1,146/ounce to $1,173/ounce. However, during the Asian session the price started to decrease supporting the bearish outlook. Most analysts believe that if the stock market continues to rally, the yellow metal could fall even lower. Two FOMC […]
Gold price has bounced from $1,146 low towards the previous high of $1,178. Gold price has managed to reach the 78.6% Fibonacci retracement but did not manage to make a higher high. This upward move could continue higher towards $1,195 if yesterday’s high at $1,174 is broken. Otherwise, we might have started a new downward […]
Markets Pause At Highs Morning Report: 08.30 London • This morning, the S&P 500 is pausing after making yet another record high last night. The dollar index is also slipping back against the recent bull run. […]
Technical outlook and chart setups: Silver bounced off the $15.40/50 levels yesterday, which is fibonacci 0.50 support of the rally between $15.00 to $15.90. At the moment, the metal is seen to be trading around $15.70 mark, looking to push through $16.00 levels. Resistance is seen at $16.40, followed by $17.50, $17.80/18.00, while support is […]
Technical outlook and chart setups: Gold has bounced off from the expected support region around $1,150.00 yesterday. At the moment, the metal is trading around $1,169.00/70.00 levels and is looking to challenge $1,180.00/85.00 immediately. A break above those levels could see the metal easily rallying up to the $1,208.00 mark at least. Resistance is at […]
Gold fell below its highest price for the week behind outlook that interest rates in the US will start to increase and while the world’s biggest exchange traded product backed by gold goes on its longest decline in a year. Spot gold traded at a price per ounce of $1,162.05 mid morning Singapore time today […]
Overview : Since our last analysis, gold has been trading downwards. The price tested the level of 1,145.94 in a volume below the average. I have placed Fibonacci retracmeent from the most recent swings to find potential support levels. I got Fibonacci retracment 61.8% at the price of 1.149.00 (successful held). Be careful when selling […]
Oil prices continue to extend losses on Tuesday as the West Texas Intermediate (WTI) falls below $77. Meanwhile, analysts’ forecast a rise in US stockpiles for a sixth week could signal persisting oversupply concerns. Futures for the North American West Texas Intermediate (WTI) for December delivery declined 0.25% to $77.00 a barrel on the New […]
Gold price has broken the short-term support at $1,169 and pushed lower but deeper than expected. This means that the entire upward bounce could very well be over and complete at $1,178 as the decline could be seen as a 5 wave impulsive decline to $1,146. I remain bearish for the longer-term targeting $1,050. After […]
Dollar Back In The Driving Seat Morning Report: 08.30 London • This morning, the US dollar is back in the driving seat after weak Japanese data this morning and speculation that Japanese PM Abe’s sales tax hike will have to be delayed. The move puts the dollar index back near the highs and the S&P 500 […]
The stronger US dollar again pushed the metal prices to lower levels. The positive impact on the expanding US economy has helped the US dollar rally. In yesterday’s session, the metal opened on a bearish note and fell $30.0 closed at the lowest levels. As we recommended in our yesterday’s article, my buying price was […]
Technical outlook and chart setups: Silver has also retraced from sub $16.00 levels towards $15.50 for now. It was expected that the metal would take out resistance at $16.20 levels before retracing lower but was not the case. Please note that, the metal has broken above the immediate resistance line and it is testing the […]
Technical outlook and chart setups: Gold has retraced to expected levels around $1,150.00, as seen here. Also note that the metal is trading around the fibonacci 0.618 support at the moment. It is recommended to initiate long positions again at current price, risk remains at $1,125.00. Resistance is seen at $1,200.00, followed by $1,235.00, $1,255.00 […]
Prices of gold climbed up on outlook that a dip to its lowest in almost four years boosted the number of physical buying enough to offset the weakening demand from investors. Spot gold advanced by as much as 0.5% to a price per ounce of $1,157.30 and was trading mid morning Singapore time at $1,156.91, […]
Overview : Since our last analysis, gold has been trading upwards. As we expected, the price rejection from the level of 1,146.00 and tested the level of 1,178.54 in an ultra high volume. Our major Fibonacci expansion 161.8% at the price of 1,146.00 held strongly, which is a sign that we may see a potential […]
November 10, 2014 – Commodities News Gold Gold increased almost 3% on Friday and climbed to $1,170/ounce as the market priced in the weak U.S. data. Most analysts now believe that the price could fall again as the Unemployment Rate dropped to 5.8%, showing the economy to be improving at a faster rate than expected. […]
Gold price has made a sharp upward reversal on Friday as expected by our analysis towards our short-term target of $1,170-$1,180. This bounce has been expected since last week as the sequence of 5 waves down was completed at $1,130. The bounce is of a corrective nature and once the upward correction ends, we should […]
In Line China CPI Boosts Markets Morning Report: 09.00 London • This morning, markets are steady after Chinese CPI came in as expected. The move has stabilised stock markets, but putting pressure on the US dollar index. […]
Gold dropped from its highest price in a week on outlook that an increase in borrowing costs in the US is imminent, causing the biggest gold backed exchange traded product to decline. Spot gold fell by as much 0.7% for a price per ounce o f $1,170.09 and wa trading early morning Singapore time at […]
Overview : Since our last analysis, gold has been trading sideways around the price of 1,145.00. We are waiting for a larger volume and stronger price action. Our major Fibonacci expansion 161.8% at the price of 1,146.00 is on the test, so be very careful when selling gold at this stage. According to the 1H […]
Gold price made a new lower low at $1,130 and I believe there are increased chances we could see a strong upward bounce now as the downward move is most probably will complete from $1,255. Trend remains bearish but I expect a corrective upward move. Gold price is testing the short-term resistance at $1,145 and […]
Technical outlook and chart setups: Silver has formed yet another low today at $15.00 levels before raising back into $15.40 levels. The metal seems to be preparing for at least a pullback/retracement if not a reversal from here on. Support is seen a $14.50 levels and lower while resistance is seen at $17.50, followed by […]
Technical outlook and chart setups: Gold has made fresh lows at $1,130.00 level before pulling back into $1,142.00/43.00 levels again. The metal is not completely out of the bearish momentum, but a push above $1,150.00/55.00 levels would be at least a breather for bulls to produce a counter-trend rally. Please also note that $1,150.00 level […]
What do the last three chairs of the U.S. Federal Reserve have in common? Well, it’s not their taste in structured black blazers. It’s the fact that they all see gold as a kind of Winston Churchill-like nesting doll — a riddle wrapped in a mystery inside an enigma. July 2013: Then Fed chairman Ben […]
Aussie Rallies On Employment Data Morning Report: 09.00 London • This morning, stock markets are reaching for fresh highs ahead of today’s big Non Farm Payrolls data. At the same time, the dollar index is holding after pushing higher yet again yesterday. […]
November 7, 2014 – Commodities News Gold Yesterday, Gold continued to trade sideways between $1,137/ounce and $1,149/ounce. During the Asian session the price dropped to a fresh 4 and a half year low as speculation over strong U.S. Non-farm payrolls data started. Physical demand has not picked up which suggests that the price is expected […]
Futures of gold declined today to put the metal in the middle of its longest string of declines since May 2014 with the rise of the dollar dampening demand for alternative investments. Gold with a delivery date in December fell by 0.3% for a price per ounce of $1,142.60 early afternoon New York time on […]
Overview : Since our last analysis, gold has been trading sideways around the price of 1,143.00. We are waiting for a larger volume and stronger price action. Our major Fibonacci expansion 161.8% at the price of 1,146.00 is on the test, so be very careful when selling gold at this stage. According to the 4H […]
Aussie Employment Impresses Morning Report: 09.00 London • This morning, the Australian dollar is riding high after impressing with better than expected employment change data. The New Zealand dollar is pushing higher in sympathy. […]
