06-28-2016, 02:39 AM
- Gold is up on Brexit risk aversion. Today’s range $1314-1335
- Gold is currently trading at $1332/troy ounce. Immediate support lies at $1180 and resistance at $1350 area.
- Silver is also up but less compared to gold. Today’s range $18.1 -17.6
- Active call – Buy Silver @ $16.7 with target around $19 and stop loss at $14.8
- Silver is currently trading at $17.8 /troy ounce. Support lies at $15.6, $16 & resistance at $17.2, $17.8, 18.4
07-06-2016, 03:20 AM
Gold surges to 27-month highs
Gold traded between $1,340.50 and $1,358.95 an ounce, before closing at $1,358.35, up $19.45 or 1.45% on the session.
Gold has hovered neared 27-month highs since soaring nearly $100 an ounce in a single session in late-June after voters in the U.K. approved a referendum paving the way for a potential departure from the European Union.
Since opening the year around $1,075, Gold has soared nearly 25% over the last six months, amid mounting concerns of a worldwide recession and a delayed interest rate hike from the Federal Reserve.
07-07-2016, 12:14 PM
The bulls took a breather from its week-long run of gains, resulting in a consolidative phase in gold below $1370 mark, as we head towards the European session.
Currently, gold trades modestly flat at $1366.44, having posted days high at 1370.85 and days low at 1365.32. Gold prices moved further away from multi months highs, largely on the back of correction after the recent strength, while markets take profits off the table heading towards the crucial US employment data, with ADP and NFP jobs report due today and tomorrow respectively.
Moreover, the bullion failed to benefit from the FOMC minutes released late-Wednesday and extended its retreat thereon, despite a cautious tone prevalent amid equities. Meanwhile, the US dollar trades almost unchanged at 96.15, awaiting cues from the US employment numbers.
The metal has an immediate resistance at 1380 and 1388.54. Meanwhile, the support stands at 1364.63 below which doors could open for 1357.22.
07-18-2016, 10:03 AM
Gold prices found takers around Fridays low of $1323 levels as investors assess the situation in Turkey following a failed military coup attempt over the weekend.
Prices failed to take out 5-DMA level of $1335 in Asia and dipped $1323 levels before trimming losses to trade around $1330 levels. The safe haven demand for the metal dropped in Asia after failed military coup attempt in Turkey eased political fears.
However, investors fear a backlash from Erdogan government and thus losses in the yellow metal were capped around Friday’s low of $1323. The recovery from the session low was partly aided by 0.20% weakness in the US dollar index as well. Given the data calendar is light across the globe, the metal remains at the mercy of the news flow out of Turkey.
Prices are attempting to break above $1130.34. Acceptance above the same could yield $1135 above which gains could be extended to 10DMA level of $1350. On the other side, a breakdown of support at $1320 would open doors for a drop to $1300. A violation there could yield $1284.
07-19-2016, 06:15 PM
Gold - 19.07.2016
Gold has risen almost 25 percent this year, with recent gains being driven by an uncertainty stemming from Britain's decision to leave the European Union and a Turkey coup bid.
Technically, Gold very good important support is below at 1320. Important resistance above at 1347.20.
Trend overall looking slightly bearish at the moment.
07-20-2016, 02:00 PM
Gold - 20.07.2016
Gold prices kept hovering in place on Tuesday near a two-week low as the dollar surged against a basket of major rivals, holding the precious metal from any upward breakout.
Technically, Gold next immediate support below at $1325, $1305 and $1300 levels.Upside resistance above at $1338, $1350 and $1375 levels.
07-21-2016, 10:47 PM
07-26-2016, 06:02 AM
Gold prices up with focus on Fed
Gold drifted lower on Tuesday in Asia with sparse regional data and investors squarely-focused on this week's review of interest rates by the Federal Reserve.
On the Comex division of the New York Mercantile Exchange, gold for December delivery eased 0.20% to $1,324.70 a troy ounce.
Overnight, gold inched down in cautious trade on Monday, amid a steady dollar, as market players looked ahead to the start of the Federal Reserve's two-day meeting in Washington D.C. for further clues on the path of the U.S. central bank's long-term interest rate outlook.
Commodity traders largely stood pat on Monday, as metal investors prepared for the start of the Federal Open Market Committee's (FOMC) two-day July monetary policy meeting on Tuesday morning. While the FOMC is unlikely to make any adjustments to its benchmark Federal Funds Rate, the U.S. central could provide key hints on the timing of its next interest rate hike.
07-29-2016, 05:03 PM
Gold - 29.07.2016
Gold is higher this week as Fed kept rates on hold and found support around $1300 area. Today’s range $1328-1348
Expected price range to $1520
Gold is currently trading at $1346/troy ounce. Immediate support lies at $1300 and resistance at $1395 level.
Trend overall looking slightly bullish at the moment.
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08-05-2016, 01:48 AM
Gold ticked up after BOE rate cut.
Gold ticked up on Thursday, remaining near 28-month highs, as investors looked past a highly telegraphed interest rate cut from the Bank of England placing a greater focus on the U.S. monthly job report set to be released at week's end.
On the Comex division of the New York Mercantile Exchange, Gold for December delivery traded between $1,355.25 and $1,371.35 an ounce before settling at $1,367.05, up 2.35 or 0.17% on the session. With the slight declines, Gold closed higher for the seventh time over the last eight sessions. Since opening the year near $1,075 an ounce, Gold has soared approximately 29% over the last six months and is on pace for one of its strongest years in a decade.