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    GOLD

    hi

    In this section Daily analysis will be inserted.

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    GOLD

    hi

    In this section weekly analysis will be inserted.

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    daily

    pattern : deep crab


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    Quote Originally Posted by PCMAnalyst View Post
    daily

    pattern : deep crab

    Result:



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    GOLD - July 11th , 2013






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    SILVER - July 11th , 2013






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    XAU/USD (4 Hours) - July 12 , 2013

    As you can see Gold increased versus the USD and moved out of the bearish Fibonacci fan. Although it failed on its first attempt to cross the next resistance level, we anticipate that Gold might be further controlled by the bulls.



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    During last week, gold and silver changed direction and rallied along with other commodities prices. Their rally coincided with the depreciation of the US dollar against currencies such as Euro and Japanese yen. The recent publication of the minutes of the FOMC meeting and Bernanke’s speech may have changed investors’ perspective think regarding the next move of the FOMC, i.e. the FOMC won’t taper its asset purchase program in the coming months. This shift was enough to help rally bullion prices. In other news, U.S jobless claims increased by 16k to 360k; China’s gold imports are rising, which might contribute to gold’s recovery. Will gold and silver continue to pull up this week? Here is a short outlook for July 15th to July 19th; this includes a fundamental analysis of the main publications and events that may affect precious metals markets. These include: Bernanke’s testimonies, , U.S CPI, Philly fed survey, China’s GDP, U.S housing starts, minutes of RBA’s meeting, U.S retail sales, and U.S. jobless claims.

    During the previous week, gold price rallied last week by 5.35%; moreover, the average price reached $1,257.18 /t. oz which was 1.59% above last week’s average price. Gold ended the week at $1,212.7 /t. oz.
    Silver also bounced back last week by 5.62%; moreover, the average weekly rate was $19.41/t oz, which was 0.31% above last week’s price.
    Herein is a short overview that outlines the main publications, events and decisions that may affect gold and silver next week between July 15th and July 19th.

    Based on forthcoming events and latest developments, gold and silver prices might change direction and fall. The sharp rise of both gold and silver prices during last week might lead to a correction at the beginning of the week especially if China’s GDP report will disappoint investors. China is among the leading countries in importing commodities. Bernanke’s testimony in Congress and Senate could affect precious metals markets if Bernanke’s testimonies and comments to the committees will change the current market expectations as to when and how the Fed will taper its asset purchase program. I suspect the upcoming testimonies could stir up the markets as the uncertainty is high regarding the Fed’s next move. If Bernanke will continue with his line of dovish line of remarks, gold and silver prices are likely to further rise. Otherwise, gold and silver could pull back. Until then, the developments in the U.S economy could influence traders: The upcoming U.S reports include: CPI, retail sales, Philly Fed index, jobless claims, and housing starts. If these reports will keep showing progress in the U.S economy, they could adversely affect gold and silver prices. China’s new loans and CPI reports could positively affect commodities prices if they will show higher than expected growth. The minutes of RBA and MPC could affect the Aussie dollar and GB pound, respectively, which are strongly correlated with precious metals.

    Despite last week’s recent rally of gold prices, gold holdings of the SPDR gold trust ETF continue to pull down: the ETF’s gold holdings declined by 3.14% during July and by 30.48% during 2013. Current gold holdings are at 939.1 tons. If the ETF’s gold holdings continue to dwindle, this could indicate the demand for gold as an investment further falls. One explanation could be the robust demand for the physical metal: China’s gold imports continue to rise and India’s demand for gold rises despite the hike on gold import taxes. Finally, the Indian Rupee appreciated against the USD during last week; if the Rupee’s upward trend will continue; it may also positively affect the demand of gold in India.

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    XAU/USD (4 Hours) - July 16 , 2013

    Since the end of March, Silver has been tumbling below a bearish Fibonacci fan, but was able to recover slightly at the support level around 18.35. Recently, it is trading along the support around 19.55 by approaching the lowest channel of a bearish Fibonacci fan and based on the falling Stochastic as well as the stagnating Momentum, the bears might be strong enough to push the pair back into the downward trend again.



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    Gold and Silver Prices Outlook for July 22-26

    July 21, 2013


    During last week, gold and silver didn’t do much. Their rally coincided with the depreciation of the US dollar against currencies such as Euro and Japanese yen. Bernanke’s testimony reminded that the Fed won’t taper QE3 until the U.S economy will show clear signs of progress. This news, however, didn’t stir up the precious metals markets. In the U.S several reports mostly showed a positive sentiment regarding the progress of the economy: Housing starts fell by 9.9% during June compared to May; Philly Fed index also rose to 19.8 in July; U.S jobless claims fell by 24k to 334k; Retail sales slightly increased by 0.6% during June. Will gold and silver resume their downward trend this week? Here is a short forecast for July 22nd to July 26th; this includes a fundamental analysis of the main publications that may affect precious metals markets. These include: U.S core durable goods, EU monetary developments, U.S housing starts, Canada’s retail sales, China manufacturing PMI, U.S existing home sales, and U.S. jobless claims.

    The price of gold slightly increased by 1.20% last week; moreover, during last week, the average price reached $1,285.70 /t. oz which was 2.27% above last week’s average.
    The price of silver slipped by 1.68%; conversely, the average weekly rate was $19.60/t oz, which was 0.99% above last week’s.

    Herein is a short overview that outlines the main publications and decisions that may affect gold and silver next week between July 22nd and July 26th.

    Based on upcoming reports and latest developments, gold and silver prices might not do much during the week. They might resume their downward trend if the upcoming U.S reports including new and existing home sales, jobless claims and core durable goods will keep showing signs of progress. These reports could indicate the U.S economy is progressing and thus pull down the demand for safe haven investments such as gold and silver. These reports could also suggest the Fed might be one step closer towards tapering QE3, which is also likely to adversely affect bullion prices. In China, the upcoming manufacturing PMI report could affect the Aussie dollar, which is strongly correlated with precious metals prices. The US dollar depreciated during last week against leading currencies including Euro, Aussie dollar and Japanese yen. If this trend will change course, and the US dollar will rally, this could also adversely affect precious metals prices. Nonetheless, based on the upcoming publications it is more likely that precious metals prices won’t do much during the week and the volatility will be low, much like the low volatility during last week.

    Despite last week’s recent rise of gold price, gold holdings of the SPDR gold trust ETF continue to dwindle: the ETF’s gold holdings fell by 3.82% during July and by 30.97% during the year (up to date). Current gold holdings are at 932.4 tons. If the ETF’s gold holdings continue to fall, this could indicate the demand for gold as an investment further diminishes. In India, silver imports rose during the first five months of 2013 despite the rise in precious metals import taxes. Finally, the Indian Rupee slightly appreciated against the US dollar during last week; if the Rupee will continue to rise; it may also positively affect the demand of gold and silver in India.

 

 
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