Technical outlook and chart setups: Silver droppeds to $15.75 levels in the early hours today before pulling back to $15.94/95 levels. The metal is producing a hammer on the daily chart view, which indicates a potential bottom. Yet, recommendations are to remain on sidelines and wait for a confirmation. Support is around $14.60 and lower, […]
Technical outlook and chart setups: Gold dropped to $1,160.00 levels taking out long positions yet again. A weekly chat view has been presented here for a larger trend view. A support trend line connecting the 2004/05 and 2008/09 lows is passing through the $1,150.00/$1,160.00 levels. The fibonacci 0.618 support of the rally between $680.00 and […]
Gold neared its lowest value in four years after a surprise stimulus boost from the Bank of Japan (BoJ) coupled with the closing of the Federal Reserve’s bonds buying program drove down demand for a safe haven and lifted up the US dollar. Spot gold dropped by as much as 1% today for a price […]
Overview: Since our last analysis, gold has been trading downwards. As we expected, the price tested the level of 1,161.06 in an ultra high volume (selling climax). Our swing low at the price of 1,183.00 is broken, so we we may expect testing the level of 1,147.00 (major Fibonacci expansion 161.8%). According to the daily […]
Gold price as expected has broken $1,200 and the huge support has set at $1,180. The bearish trend remains strong both in the short- and long-term. Our longer-term target remains at $1,050 as I have been saying for so long. The trend is down and now that we have broken below the triple bottom, the […]
Yen Slumps On BOJ Action Morning Report: 09.00 London • The yen is the big mover this morning after the Bank of Japan surprised many by announcing an aggressive round of easing activities. The move sent the yen pairs shooting higher, with the USD/JPY rising to its highest level in six years. There was a perfect […]
The yellow metal drifted below $1,200.00 after the upbeat US data. The metal closed below $1,200.00 after 18- sessions. On the downside, the metal has support at $1,193.00 and $1,190.80. Today, gold opened on a minor bullish note. The daily Stochastic is indicating oversold. The metal settled at a 4-week low. In the h4 chart, […]
October 31, 2014 – Commodities News Gold Yesterday, Gold decreased and started to range around $1,200/ounce. During the Asian session the price started to fall and broke through its support. The metal then reached a 4 year low at $1,167/ounce. The bearish sentiment was caused by recent news that the Fed will end quantitative easing […]
Technical outlook and chart setups: Gold has dropped below our expectations towards $1,198.00 levels yesterday. Please note that the metal is at a confluence of fibonacci 0.786 support and back side of the resistance line (that is support now). A bullish reversal here is still expected and it is recommended to hold long positions it […]
Technical outlook and chart setups: Silver made yet another low at $16.35 levels yesterday barely hitting stops placed at $16.40 levels. Both precious metals are diverging at the moment (Silver is making a low while Gold is not). This could be an early indication of a major reversal. Support (interim) is at $16.00, followed by […]
Gold is on track to post its first back to back monthly losses this year after having its gains for 2014 wiped out by the Federal Reserve’s announcement that it is ending its monthly bond purchase program with the US economy improving. Spot gold traded at a price per ounce of $1,200.67 mid morning Singapore […]
Overview: Since our last analysis, gold has been trading downwards. As we expected, the price tested the level of 1,199.56 in an ultra high volume (selling climax). Our Fibonacci retracement 61.8% at the price of 1,210.00 is broken, which is a sign that the price go to test the level of 1,183.00 (swing low like […]
Dollar Roars On Interest Rate Speculation Morning Report: 09.00 London • The dollar is still dominant after rising sharply yesterday. The dollar shot higher yesterday following the latest FOMC statement that was widely interpreted as hinting at an interest rate hike is closer than expected. That momentum is carrying over this morning, forcing the major dollar […]
Gold price has broken short-term support at $1,221 and price is moving towards our short-term target of $1,200 already. My longer-term view remains bearish targeting $1,050. Important resistance for a trend change is the $1,240. Red line=broken support Gold price has made a lower low and remains below the Ichimoku cloud. Next support is at […]
October 30, 2014 – Commodities News Gold Yesterday, Gold dropped $20/ounce to $1210/ounce. The bearish sentiment continued during the Asian session and the commodity is currently trading around $1205/ounce. The price is reacting to the fact that bond purchases were ended as this boosted the value of safe haven assets. Hawkish comments regarding the labour […]
Technical outlook and chart setups: Silver has tested the range lows at sub $17.00 levels again. Please note that it is also at the fibonacci 0.618 support (sub $17.00 levels). The metal could be preparing to rally from current price levels up to $18.50 in the days to come. Hence recommendations are to remain long, […]
Technical outlook and chart setups: Gold has dropped to $1,210.00 levels as discussed and expected earlier. Please also note that the metal is at fibonacci 0.618 support levels of the rally between $1,183.00 and $1,255.00. It is recommended to exit short positions taken earlier (last week) and initiate long positions, with risk at $1,180.00 levels. […]
The yellow metal was pushed to a 3-week low. In today’s early session the metal holds steady by holding previous low. In yesterday’s session the metal fell below 20Dsma and closed below that. The metal has the nearest support at $1,207.00 levels, below this, $1,202.80 and $1,200.00 will act as support levels. On the other […]
Gold held near its lowest value in three weeks with the dollar strengthening after the Federal Reserve announced the end of its bonds buying program amidst falling holdings in the largest gold backed exchange traded product. Spot gold was trading at a price per ounce of $1,214.29 mid morning Singapore time on generic price from […]
Markets Buoyed by US Consumer Confidence Morning Report: 09.00 London • Markets appear to have regained their appetite for risk taking after US consumer confidence surged to its highest level in seven years last night. The move pushed Stock markets back above the psychologically important 50 day moving average, helping to erase much of the losses […]
October 29, 2014 – Commodities News Gold Yesterday, Gold increased to $1,235/ounce after the U.S. Durable Goods disappointed the market. However, the stock market performed well (the S&P500 almost returned to 2000) and consequently lowered demand for safe-haven assets pushing the price back below $1,230/ounce. During the Asian session speculation started before the FOMC statement […]
Gold traded just above its lowest value in two weeks with investors weighing the strength of the US economy just as policy makers of the Federal Reserve concludes their latest committee meeting. Spot gold alternated between gains and losses of at least 0.2% and traded at a price per ounce of $1,228.41 mid morning Singapore […]
Markets Optimistic Despite QE Withdrawal Morning Report: 09.00 London • Markets are on the rise this morning, despite the prospect of a formal end to the Fed’s Quantitative Easing program that has supported the bull run for the best part of five years. The S&P 500 is on the rise, while the dollar index dips lower. […]
October 28, 2014 – Commodities News Gold Yesterday, Gold ranged in narrow channel between $1,227/ounce (its support) and $1,232/ounce. During the American session U.S. stocks increased causing the price to drop to $1,222/ounce. However, the metal then regained some of its losses as physical demand remained strong. Tomorrow, we expect the Fed to end their […]
Gold continued to decline for the fifth consecutive day, its longest since August, right before the Federal Reserve convenes for a two day meeting where it is expected to announce the end of its asset buying program. Spot gold dropped by as much as 0.3% for a price per ounce of $1,222.62, its lowest since […]
October 27, 2014 – Commodities News Gold On Friday, Gold ranged between its support at 1,226 and 1,234.50. Bearish sentiment ended as the stock market tumbled. Amazons third quarter release sent equities down sharply. The negativity reduced demand for riskier assets and slightly spurred demand for safe haven assets. Physical demand has also been stronger […]
Markets Shrug Off Euro Stress Test Morning Report: 09.00 London • This morning, markets are mixed with the S&P 500 broadly unchanged and the dollar index backing off slightly. This week also marks the final tranche of the Fed’s asset purchase program. […]
Gold held on to its losses incurred from falling from its highest value in six weeks with investors expecting the Federal Reserve to announce the end of its asset buying quantitative easing program this week. Spot gold declined by as much as 0.3% today to fall to a price per ounce of $1,227.51 and was […]
Brent declined for the second day in a row after Goldman Sachs Group Inc. revised down its forecasts for prices of crude oil in the first quarter of next year due to outlook that supply will eventually surpass global demand. Futures of the European crude oil benchmark with a delivery date in December fell by […]
GOLD: With GOLD closing lower the past week, it looks to extend that weakness in the days ahead. On the upside, resistance lies at the 1,257.77 level where a break will target the 1,280.00 level followed by the 1,300.00 level. A cut through here will extend gains towards the 1,330.00 level. Its daily RSI is […]
