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Thread: GOLD

  1. #721
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    Gold has been a chop today, consolidating the recent drop from the 1270 psychological level down to 1258 territories below the key support of the 1260 boundary.
    A wobble in risk was supporting gold today as full markets return to pick up the prices of yesterday’s thin trade and recent news. There are a number of fundamental factors that can be attributed to the support for gold previously pushing it to 1270, from a headache associated with the Greek news, the North Korean threats, June around the corner and a market factoring a hike form the Fed.

  2. #722
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    Gold has rallied and continues to catch a bid with risk-off markets and a drop in US yields, the 10-year is down -1.92% a low of 1.1278% the highs and well of base exposing plenty of downside in the Dollar Index.
    The Dollar index has not been above the 98 handle since 18th May. Continued concern about the US economy not improving as much as the market has priced in with respect to the Fed’s hawkishness is highly damaging to the dollar that has made fresh lows of 96.53 today so far. Gold has made subsequent highs of $1296.01.
    Meanwhile, there are concerning implications of the conflict between Saudi Arabia and Qatar and yen are another driving force on an Intermarket basis. USDJPY is down -0.91%. Another fundament’s this week come with the European Central Bank announcements, the U.K. general election and former Federal Bureau of investigation boss James Comey’s testimony before a Senate panel all on Thursday. Gold has met the previous 1295.51, 16th April highs and broken that level, opening a case for the resumption of the 1122 Dec 2016 rally $1302 on the cards, the 31st Aug 2016 low.

  3. #723
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    Gold came under some fresh selling pressure on Thursday and dropped to fresh session low near $1241 region following the release of US economic data.

    The latest leg of slide over the past hour or so could be attributed to a modest greenback recovery. In fact, the key US Dollar Index has managed to recover the majority of its early lost ground after the final US GDP print came in to show a stronger than initially expected growth of 1.4% for the first quarter of 2017, and is eventually weighing on dollar-denominated commodities - like gold.

    Adding to this, today's data also seems to have lifted expectations for additional Fed rate-hike action in 2017 and the same is evident from surging US Treasury bond yields, which further collaborated towards driving flows away from the non-yielding metal and dragged it to session lows near $1240 level.

    With today's slide, the precious metal has now reversed previous two days of tepid recovery gains. Adding to this, the reemergence of selling pressure on every up-move beyond $1250 level clearly seems to suggest that the bearish pressure around the commodity might still be far from over.

  4. #724
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    Gold Technical Levels - 05.07.2017
    Gold is down again today as the dollar recovers. Today’s range $1217-1241
    We expect the gold price to reach $1390 per troy ounce. In the short-term price is likely to decline to $1225 area.
    Gold is currently trading at $1222/troy ounce. Immediate support lies at $1210, and resistance at $1255 area.

  5. #725
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    Quote Originally Posted by Raam View Post
    Gold Technical Levels - 05.07.2017
    Gold is down again today as the dollar recovers. Today’s range $1217-1241
    We expect the gold price to reach $1390 per troy ounce. In the short-term price is likely to decline to $1225 area.
    Gold is currently trading at $1222/troy ounce. Immediate support lies at $1210, and resistance at $1255 area.
    The sellers are so active right now! Nearest daily support level (1203) is on the way! According to the daily context even it can touch 1182 level!

  6. #726
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    Gold Technical Levels - 12.07.2017
    Gold is marginally recovering as the dollar declines. The focus is on Yellen testimony. Today’s range $1220-1216
    In the short-term price is likely to decline to $1190 area.
    Gold is currently trading at $1217/troy ounce. Immediate support lies at $1190, and resistance at $1245 area.

  7. #727
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    Gold Technical Levels - 13.07.2017
    Gold is marginally recovering as the dollar declines. The focus is on Yellen testimony. Today’s range $1224-1216
    In the short-term price is likely to decline to $1190 area.
    Gold is currently trading at $1220/troy ounce. Immediate support lies at $1190, and resistance at $1245 area.

  8. #728
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    Gold Technical Levels - 17.07.2017
    Gold is marginally recovering as the dollar declines. Likely to find sellers around $1230 area. Today’s range $1227-1232
    In the short-term price is likely to decline to $1190 area.
    Gold is currently trading at $1230/troy ounce. Immediate support lies at $1190, and resistance at $1245 area.

  9. #729
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    Gold Technical Levels - 19.07.2017
    Gold is recovering as the dollar declines. Likely to find sellers around $1245 area. Today’s range $1243-1235
    In the short-term price is likely to decline to $1190 area.
    Gold is currently trading at $1242/troy ounce. Immediate support lies at $1190, and resistance at $1245 area.

  10. #730
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    Gold Technical Levels - 20.07.2017
    Gold is down today as the dollar recovers. Today’s range $1242-1235
    In the short-term price is likely to decline to $1190 area.
    Gold is currently trading at $1242/troy ounce. Immediate support lies at $1190, and resistance at $1245 area.

 

 
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