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Thread: GOLD

  1. #651
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    Gold - 20.01.2016

    Technically, Gold next immediate resistance above at 1100 , 1104.50 and 1113.20 levels. Downside support at 1091, 1087.60 and 1086.40 levels.

  2. #652
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    Gold - 21.01.2016

    Gold prices dipped in Asia on Thursday as investors mulled overnight weak data from the U.S. and the prospects for Federal Reserve rate hikes this year.
    Technically, next immediate resistance above at 1109.70, 1113.10 and 1118.90 levels. Down side support at 1097, 1082.30 and 1071.30 levels.
    Trend overall looking slightly bearish at the moment.

  3. #653
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    Gold Stay lower after Jobless claims data.

    Gold fell on Thursday, staying lower after data showed the number of people who filed for unemployment assistance in the U.S last week fell to 12 week low.

    The U.S department of labor said the number of individual filing for initial jobless benefits decreased by 7k to 262k analysts expected jobless claims to raise by 6k to 275k from prior week.

    First time jobless claims have held below the 300k level 49 consecutive weeks, which is usually associated with a firming labor market.

    A day earlier gold tacked on 0.26% amid indications the Federal Reserve could slow the pace of U.S interest rate hikes.

    Minutes from the FED January meeting revealed that policymakers worried that tighter global financial conditions could hit the U.S economy and considered changing their planned path of interest rate hikes in 2016.

    Prices of the yellow metal soared to a one year high of $1263.90 last Thursday boosted by a flight to safety. Gold is up nearly 14% so far this year amid indications global economic and financial headwinds could make it tough for the Federal Reserve to raise interest rates as much as it would like this year.

    Market participants have all but priced out any rate hikes year, while the fed is anticipating four more. A gradual path to higher rate is seen as less of a threat to gold prices than a swift series of increases.




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  4. #654
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    Gold Crash as U.S dollar, oil, global stocks all push higher.

    Gold price fell hard on Monday, as strong gains in the U.S dollar & oil price and global stock markets dented the precious metal safe-haven appeals.

    The US dollar index which measures the greenback’s strength against a trade weighted basket of six major currencies was up 0.85% at 97.44 highest since Feb 3.

    Meanwhile, oil prices rallied more than $1 on Monday amid indications U.S drillers are cutting back on production.

    U.S stock markets pointed to strong gains at the open on Monday, with the Dow futures briefly jumping more than 200 points.

    Gold held above $1200 level amid ongoing speculations the Federal Reserve could delay the pace of its tightening for the remainder of 2016.

    Prices of the yellow metal soared to a one year high of $1263.90 on February 11. Gold is up nearly 16% so far this year amid indications global economic and financial headwinds could make it tough for the Fed to raise interest rates as much as it would like this year.

    In the week ahead market players will be turning their attentions to Friday revised data on U.S fourth quarter gross domestic product for a fresh reading on the strength of the economy.





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  6. #656
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    Federal Reserve leaves benchmark interest rate unchanged

    As expected the Federal Reserve left short-term interest rate unchanged on Wednesday holding rate steady for the second consecutive meeting since its historic decision.

    Citing increased risks with global economic and financial developments the FOMC kept its benchmark federal funds rate at a target range between 0.25% and 0.50%.

    Since the FOMC last met in January the U.S central bank said the economy has expanded at a moderate pace while it has noticed additional strength in the labor market. While the Fed noted that inflation has picked up in recent months, the FOMC emphasized that it still remains below its long term 2% objective.

    Over the next several months the FOMC is expected to employ a data –driven approach to the timing of its next rate hike.







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  7. #657
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  8. #658
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    Strong dollar drive gold down to 3 week lows

    Gold is under pressure in North American trade on Wednesday, falling to a three week low as hawkish comments by Federal Reserve official boosted the U.S dollar.

    Patrick Harker said late on Tuesday that the central bank should consider another interest rate hike as early as next month and added that he would prefer at least three hikes before year end.

    The market will paying attention to a speech by Louis FED president james bullard later in the day to further judge the balance of opinion among policymakers on the prospect of further rate hikes.

    A stronger dollar makes U.S commodities more expensive for buyer holding other currencies.

    A day earlier gold inched up $4 as series of deadly explosion in Brussels sparked a wave of risk aversion boosting appetite for safe-haven assets.






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    Gold price add to gains after U.S jobless claims Fed speakers ahead.

    Gold futures added to gains in North America trade on Thursday after data showed the number of people who failed for unemployment assistance in the U.S last week rose more than expected.

    The U.S department of labor said the number of individual filing for initial jobless benefits increased by 11k last week to 276k analysts expected jobless claims to hold steady at 265,000 last week.

    First-time jobless claims have held below the 300k level for 55 consecutive weeks, which is usually associated with a firming labor market.

    Traders will now be paying close attention to speeches by Chicago Fed president Charles Evans, San Francisco Fed president John Williams and New York Fed president William Dudley later in the day to further judge the balance of opinion among policymakers on the prospect of further rate hikes.

    Market players are also focusing on Fridays U.S nonfarm payrolls report. The consensus forecast is that the data will also shows jobs growth if 205k in March the unemployment rate is forecast to hold steady at 4.9% while average hourly earnings are expected to rise.

    The shift came after Federal Reserve Chair Janet Yellen emphasized global dangers to growth and inflation, and thus the need to proceed “cautiously” on tightening policy.




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