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  1. #21
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    Gold extends losses on higher Consumer Confidence

    Gold prices eased for the second consecutive session into Tuesday. Fed tapering fears are weighing heavily on the gold prices. Gold prices touched $1276.80/ounce on Monday, the highest in past 10 weeks, but could not keep the momentum and dropped.
    Gold prices opened up high on Tuesday at $1258.23 but eased during the day on Fed tapering fears. FOMC is currently undergoing a two day meeting and the result of the discussions will be announced tomorrow on Wednesday. Most of the analysts forecast that, the Fed will announce further cuts in the monthly bond buying program by another 10 billion dollar. The monthly bond buying program also called quantitative easing has been the Fed’s weapon of choice for reviving the economy and to provide the necessary stimulus. However, QE3 as it is called, affected the dollar negatively, depreciating its value. With the fed on track of reducing the QE3 and finally stop it, U.S. dollar is revived and the expected announcement that Fed has cut another $10 billion from the bond buying program is scaring the gold prices.
    Spot gold prices jumped up and were trading around $1258.90/ounce, on weak U.S. Durable Goods Orders figure that moved into negative territory at -4.3%. However, with the release of positive Consumer Confidence numbers, the gold prices plunged to $1249/ounce. Data released today from U.S. showed that the Consumer Confidence has improved to 80.7 from 77.5 beating the forecast of 78.0. Also, the U.S. stocks are up after suffering worst slump since June 2013 on positive earnings reports and upbeat Consumer Confidence data, attracting investors away from gold.
    Syed Murthuza Hussaini
    Executive Dealer,
    PCM-BROKERS DMCC

  2. Thanks Raam thanked for this post
  3. #22
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    Gold - What to Watch

    Gold

    R1 - $1262.00 S1 - $1248.60
    R2 - $1272.60 S2 - $1239.90
    R3 - $1279.00 S3 - $1231.10

    DATA TO WATCH

    FEDS INTEREST RATE DECISION
    FEDS MONETARY POLICY STATEMENT

    MARKETS ARE TRADING IN A TIGHT RANGE OF $1262 TO $1248, NO DIRECTION TILL NOW

  4. #23
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    Gold - 30/01/2014

    R1 - 1262.40 S1 - 1248.60
    R2 - 1268.80 S2 - 1239.90
    R3 - 1272.60 s3 - 1231.10

    DATA TO WATCH

    UNEMPLOYMENT CHANGE - EUROZONE
    CONSUMER PRICE INDEX - EUROZONE
    GROSS DOMESTICE PRODUCT - UNITED STATES
    JOBLESS CLAIMS - UNITED STATES
    PENDING HOME SALES - UNITED SALES
    PERSONAL CONSUMPTION - UNITED STATES

    MARKETS ARE TRADING WEAKER, SELL ON RISE WITH STRICT STOP LOSS ADVISABLE.

  5. #24
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  6. #25
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    Goold - 31/01/2014


    R1 - 1252.10 S1 - 1238.10
    R2 - 1262.40 S1 - 1231.10
    R3 - 1268.80 S2 - 1212.10


    DATA TO WATCH

    RETAIL SALES - EUROZONE
    CONSUMER PRICE INDEX - EUROZONE
    UNEMPLOYMENT RATE - EUROZONE
    PERSONAL INCOME - UNITED STATES
    PERSONAL SPENDING - UNITED SALES
    CHICAGO PMI - UNITED STATES

    MARKETS ARE TRADING THIN AT SUPPORT LEVELS, MAY PUSH UPWARD FOR A LITTLE. TRADE WITH CAUTION.


  7. #26
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    Gold - 03/02/2014

    R1 - 1248.60 S1 - 1239.90
    R2 - 1253.80 S2 - 1231.10

    CONSTRUCTION SPENDING - UNITED SALES
    ISM MANUFACTURING - UNITED STATES

    MARKETS ARE TRADING AT SUPPORT, BE CAUTIOUS

  8. #27
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    Gold - What to Watch

    Gold 04/01/2014

    R1 - 1262.00 S1 - 1252.00
    R2 - 1266.30 S2 - 1247.90
    R3 - 1272.10 S3 - 1242.10


  9. #28
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    Gold prices eases

    Gold prices eased on Tuesday following gains in the U.S. stocks and Dollar. The Gold prices rallied on Monday following bad ISM Purchasing Managers Index figures which dropped from 57.0 in December to 51.3 in January, prompting investors to seek Gold’s safe haven refuge. Investors are keeping a keen eye on the data coming out of U.S. which predicts the overall economic health and Fed’s future decisions on monetary policies. Negative ISM PMI figures released on Monday caused a major selloff in stocks on assumption that the fed may delay its tapering on the monthly bond buying program. However, with the release of better than expected factory Orders figures on Tuesday, investors turned more optimistic and blamed worst weather conditions on Monday’s bad economic data. This drew the attention of investors away from Gold back to stocks. The April delivery gold contracts traded at $1253.30/ounce, 0.52% down from the session high of $1260.80/ounce. The session low was $1247.20/ounce.
    Syed Murthuza Hussaini
    Executive Dealer,
    PCM-BROKERS DMCC

  10. #29
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    Gold - What to Watch

    Gold - 05/02/2014

    R1 - 1262.40 S1 - 1252.10
    R2 - 1268.80 S2 - 1246.60
    R3 - 1272.40 S3 - 1238.10

    MARKETS ARE TRADING ABOVE 14 DAY MA , BUY WITH A STOP BELOW $1248.00 FOR A TARGET OF $1262.00.


  11. #30
    steph.wis
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    Gold and Oil rise with speculative outlook of the market

    Gold back on track after investors return to the yellow metal after brief buying spree in equities.
    Gold futures for april delivery rose $3.30 or 0.3% to $1255 an ounce.
    Earlier during Tuesday trade it closed lower as dollar edged higher and as investors decided that the equity selloff had gone on long enough.
    Comparative to last year, it is up by 4% after being down by 28% last year.

    Oil Futures advanced on Wednesday following a report showed smaller-than-expected rise in U.S. crude supplies. With prices reaching 76 cents or 0.8% to close at $97.19 a barrel on NYMEX.
    The winter storms sweeping the U.S. have sent temperatures below freezing in many parts of the country and boosted the consumption of heating fuel. Distillate inventories fell. It is expected that to prices to drift lower as milder weather approaches.

  12. ARIONFORXtarder
 

 
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