November 6, 2014 – Commodities News Gold Yesterday, Gold broke through a key support level at $1,150/ounce and fell to $1,138/ounce. The price has decreased by almost $1,000/ounce during the past 6 trading days. As the decline was so drastic and the price dropped below $1,150/ounce analysts now question how low the metal can go […]
Gold price after reaching our short-term target of $1,140-$1,135 is making a sideways consolidation similar to the one we saw a few days ago around $1,160-70. The trend remains bearish and I expect to see $1,110 if support at $1,135 is broken. Gold is forming a bearish flag and remains below the Ichimoku cloud resistance. […]
The yellow metal prices tumbled to 4-year lows. The strong US private sector jobs data and the Republican victory pushed the metal to new lows. Now the focus shifts to Friday’s non-farm payroll data. A positive reading will put pressure on the metal’s prices again, towards $1,100.00 or even lower. The metal is down 2% […]
Technical outlook and chart setups: Silver has produced an engulfing bullish reversal candlestick pattern on the 4H chart as seen here. This could just be an indication of a potential reversal but could be confirmed only on a break of $16.20/30 levels. Resistance is seen at $16.20/25 levels, followed by $17.40/50, $17.80/18.00 and higher up, […]
Technical outlook and chart setups: Gold has seen no respite after breaking below the $1,180.00 levels last week. A weekly chart view presented here reveals that prices are just breaking below the trend line support for now. Furthermore, the metal has just slipped below the fibonacci 0.618 support seen around $1,150.00/54.00 levels. A revival from […]
Brent crude oil dropped to its lowest in more than four years on Nov. 4, a day after Saudi Arabia announced changes to its official selling prices. Brent contracts fall to multi-year lows U.S. light crude contracts fell to as little as $75.84 per barrel, the least since October 2011, before recovering to $76.78 a […]
Gold traded near its lowest since 2010 with investors still selling off assets in the largest gold backed exchange traded product in the world. Spot gold increased by as much as 0.4% for a price per ounce of $1,144.62 and was trading mid morning Singapore time at $1,143.93, based on generic pricing from Bloomberg. The […]
Overview Silver has failed to break the Support level of 15.00 to bounce again from it and to trade between this Support level of 15.30 and below the Resistance level of 15.75. Currently, the metal is approachig the Resistance level of 15.75 again, therefore we should wait for closing above to continue its upward trend […]
Overview: Since our last analysis, gold has been trading downwards, As we epxected, the price tested the level of 1,137.50. 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 timeframe, we got lack of supply around […]
November 5, 2014 – Commodities News Gold Yesterday, Gold ranged between $1,164/ounce and $1,174/ounce. However, during the Asian session volatility picked up and the price tumbled to a 4-year low. Physical demand has not picked up despite the attractive price which may suggest that the market expects the price to fall even lower. The price […]
Republican Senate Control Boosts Markets Morning Report: 09.00 London • This morning, the dollar index and S&P 500 have regained their confidence after Republicans took control of the Senate last night. This market friendly result helped the dollar index and the S&P reach for the highs again. […]
November 5, 2014 – Commodities News Gold Yesterday, Gold ranged between $1,164/ounce and $1,174/ounce. However, during the Asian session volatility picked up and the price tumbled to a 4-year low. Physical demand has not picked up despite the attractive price which may suggest that the market expects the price to fall even lower. The price […]
Gold price has broken below the triangle consolidation and has given a new short-term sell signal as expected by our analysis. The tend remains bearish and so I still continue to expect Gold price to eventually reach $1,050. The short-term target of the decline that started at $1,255 is $1,140. Gold price is now in […]
The yellow metal bounced back from a 3-day low. The US dollar shifted to a profit booking mode after a huge rally which aided a mild bounce in the yellow metal prices. The metal prices are trading in a tight range. Traders today eye the US jobs data. Today’s key level exists between $1,155.00 and […]
Gold prices continued to decline on Nov. 3, falling for the fourth consecutive session. Gold nears $1,160 an ounce December contracts for the precious metal dropped to as little as $1,161 per ounce during the day, later trending higher to reach $1,169.80 at 1:47 p.m. on the Comex in New York, according to Bloomberg. The […]
Gold traded slightly higher than its lowest level since 2010 with investors assessing the state of the world economy against indications that it may be oversold. Spot gold traded at a price per ounce of $1,168.68 mid morning Singapore time, slightly up from the previous day’s $1,168.39. It advanced by 0.2% yesterday, based on generic […]
Overview: Since our last analysis, gold has been trading sideways around the price of 1,170.00. We got supply in an ultra high volume (selling climax) in the background and sideways movement is normal arfter strong selling pressure. Our swing low at the price of 1,183.00 is broken, so we may expect testing the level of […]
Gold prices were seen trading lower on Tuesday, falling to a four-year low on forecasts that the US dollar will strengthened on the monetary policy. The yellow metal is expected to have its first back-to-back retreat since 2000, according to analysts. Gold for immediate delivery gained 0.2% to $1,167.39 an ounce, according to Bloomberg generic […]
November 4, 2014 – Commodities News Gold Yesterday, Gold traded in a narrow channel between $1,161/ounce and $1,173/ounce. Following such a significant drop the market expected a price correction, however, better than expected U.S manufacturing data deepened speculation that the Fed could increase interest rates sooner. Traders should now expect physical demand to pick up […]
Aussie Looks on The Bright Side Morning Report: 09.00 London • This morning, markets have paused, with both the S&P 500 and dollar index reversing some of the recent bull run. […]
November 4, 2014 – Commodities News Gold Yesterday, Gold traded in a narrow channel between $1,161/ounce and $1,173/ounce. Following such a significant drop the market expected a price correction, however, better than expected U.S manufacturing data deepened speculation that the Fed could increase interest rates sooner. Traders should now expect physical demand to pick up […]
Gold price is moving sideways as part of wave 4 of the decline from $1,255. A new lower low is expected towards $1,135 for the short-term. My longer-term view remains bearish with $1,050 as a target but first we could see a bounce towards $1,180-$1,200. Gold price as shown in the 30-minute chart above is […]
Technical outlook and chart setups: Silver has also produced a doji yesterday, indicating a potential reversal ahead. The metal bottomed at $15.75 levels before closing well above $16.00 levels. Presently trading at the $15.90/95 levels, the metal could see support coming in here. A push through $16.50 levels could confirm that a potential bottom is […]
Technical outlook and chart setups: Gold has produced an indecision candle on the daily chart yesterday, indicating a potential reversal. The metal is trading at $1,167.00/68.00 levels for now, and a push through $1,190.00 levels today would confirm that a potential bottom is in place. The weekly structure indicates that $1,154.00 levels is fibonacci support […]
Gold hovered near its lowest price in four years on outlook that the Federal Reserve is getting ready to make the first increase to its interest rates, dampening its demand and raising the profile of the dollar. Spot gold traded at a price per ounce of $1,167.79 mid morning Singapore time, slightly up from yesterday’s […]
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Overview: Since our last analysis, gold has been trading sideways around the price of 1,170.00. We got supply in an ultra high volume (selling climax) and sideways movement is normal arfter strong selling pressure. Our swing low at the price of 1,183.00 is broken, so we may expect testing the level of 1,147.00 (major Fibonacci […]
Gold price has made a short-term low at $1,160 and now is trading $10 higher. The short-term consolidation could produce an upward bounce towards $1,190 where the 38% retracement is found. The trend remains bearish. So, we expect Gold price to eventually reach $1,050. As long as price is above $1,160 we should expect a […]
Yen Pressure Resumes Morning Report: 09.00 London • This morning, the Japanese yen has continued to exert its influence over current movements despite a public holiday in Japan today. The USD/JPY gapped higher in early trading, dragging most other yen pairs higher. The USD/JPY is up by 0.39%, with the GBP/JPY up by 0.30%. […]
The surprise BOJ’s action and the stronger US data weighted the metal prices to 4 -year low. The yellow metal has finally closed below the multi- support monthly trendline. The previous day’s close is the last trading day in the month of October. The bears managed to break below the 200Msma and the 1.5 year […]
