Author: Team Editors admin

Gold fell on Tuesday, with investors waiting in anxiety as a result of the meeting of the policy-making Monetary Board of the Federal Reserve on Wednesday to discern whether the U.S. central bank will raise interest rates sooner than expected.

Traders said the precious metal was subjected to further pressure from sales in the U.S. futures for August delivery went with the approach of the end of trading.

Will be issued to the Federal Open Market Committee issued a statement on Wednesday, investors will devote himself to his studies carefully in search of evidence on the date which is likely to start when the Federal Reserve to raise interest rates.

The market is also awaiting the latest data of the U.S. gross domestic product to be released Wednesday, and numbers of new jobs for the month of July, which will be published on Friday.

The decline in the price of spot gold 0.5 percent, to 1298.45 dollars per ounce at the end of the trading session in the U.S. market after he jumped in the previous session to 1312.10 dollars.

And prevented the geopolitical tensions in various parts of the world – and especially in Ukraine and the Middle East – the yellow metal from landing sharply in the past few sessions with the increasing attractiveness as a safe investment.

Among other precious metals, silver fell 0.1 percent to 20.51 dollars an ounce, while platinum fell 0.5 percent to 1472.50 Dolarellaoukah and palladium fell 0.4 percent to 876.35 dollars an ounce.

Gold prices ended a choppy, two-sided trading session modestly lower Tuesday. Some safe-haven demand was featured early on as there was a bit more risk aversion in the market place. However, prices sold off at mid-morning partly due to bearish outside market forces that included a stronger U.S. dollar index and lower crude oil prices. August Comex gold was last down $4.80 at $1,298.50 an ounce. Spot gold was last quoted down $4.90 at $1,299.00. December Comex silver last traded up $0.014 at $20.64 an ounce.

Looking at the intra-day chart for August gold futures, it appears a large sell order, or orders, hit the futures market at 9:40 a.m. eastern time. Then shortly thereafter prices sold off further following a much stronger-than-expected U.S. consumer confidence index reading for July.

There were geopolitical rumblings impacting trading Tuesday. The European Union and U.S. are slapping new sanctions on Russia. Meantime, the Israel-Hamas conflict appears not to be de-escalating. These matters helped to pressure world stock markets overnight, although the U.S. stock indexes had posted modest recoveries in afternoon trading Tuesday. The German 10-year bund yield fell to a record low Tuesday, on safe-haven moves by investors and traders. Meantime, U.S. Treasury bond prices posted a contract high and the U.S. dollar index hit a 5.5-month high Tuesday.

The market place is also focused on the big slate of U.S. economic data on tap this week. The headliners include the Federal Reserve’s Open Market Committee (FOMC) meeting on Tuesday and Wednesday, and the key U.S. employment report on Friday. The U.S. second-quarter GDP report is also out on Wednesday. It’s likely the aforementioned reports will have a significant price impact on many markets, in the immediate aftermath of their release times.

The London P.M. gold fix was $1,299.25 versus the previous A.M. fixing of $1,307.50.

Technically, August gold futures prices closed nearer the session low Tuesday and scored a bearish “outside day” down on the daily bar chart. Gold bears now have the slight near-term technical advantage. A three-week-old downtrend line is still in place on the daily bar chart. The gold bulls’ next upside near-term price breakout objective is to produce a close above solid technical resistance at $1,325.90. Bears’ next near-term downside breakout price objective is closing prices below solid technical support at last week’s low of $1,287.50. First resistance is seen at Tuesday’s high of $1,312.10 and then $1,320.00. First support is seen at Tuesday’s low of $1,295.50 and then at $1,287.50. Wyckoff’s Market Rating: 4.5

December silver futures prices closed nearer the session low Tuesday. Prices are in a three-week-old downtrend on the daily bar chart. The bears have the slight near-term technical advantage. Silver bulls’ next upside price breakout objective is closing prices above solid technical resistance at last week’s high of $21.21 an ounce. The next downside price breakout objective for the bears is closing prices below major support at $20.00. First resistance is seen at $20.80 and then at Tuesday’s high of $29.91. Next support is seen at Tuesday’s low of $20.585 and then at last week’s low of $20.42. Wyckoff’s Market Rating: 4.5.

December N.Y. copper closed down 245 points at 322.90 cents Tuesday. Prices closed nearer the session low and scored a bearish “outside day” down on the daily bar chart. Copper bulls have the slight overall near-term technical advantage. Copper bulls’ next upside breakout objective is pushing and closing prices above solid technical resistance at the July high of 329.45 cents. The next downside price breakout objective for the bears is closing prices below solid technical support at the July low of 317.55 cents. First resistance is seen at 325.00 cents and then at Tuesday’s high of 326.40 cents. First support is seen at Tuesday’s low of 322.45 cents and then at 321.00 cents. Wyckoff’s Market Rating: 5.5.

Decreased consumption of gold in China increased by almost 20% during the first half of the current year ending march consumption growth recorded by the gold in the last year.

According to the Federation of Chinese Gold, said in a statement on Thursday, the Chinese consumed during the first half of this year, 569.45 tons of gold, where gold jewelery consumption rose at rates of 11%, while the decline in the consumption of bullion rose 62% during the first half of this year.

The statement added that gold production in the country during the first half of this year amounted to 211 tons, an increase of 9% from the same period last year.

It was China’s consumption of gold has increased last year by 41.36% to 1176.4 tonnes thanks to growing demand for gold jewelry and bullion .. During the second quarter of last year dropped the price of the World Gold to about $ 1,400 per ounce compared to $ 1,600 by the fall, which encouraged the Chinese to buy heavily.

Gold fell to its lowest level in a month on Thursday, extending a decline in early trade to less than $ 1,300 for an ounce in light of strong data from the United States, China and the euro zone, which made investors reluctant to buy assets that constitute a safe haven.

The price of gold in the spot market nearly one percent to 1290.40 dollars an ounce, its lowest level since 19 June fell 0.8 percent to 1292.80 dollars by the time 1425 GMT.

The futures fell for gold in the U.S. market of $ 12.40 to 1292.30 dollars an ounce after the sell orders to reduce losses without $ 1300, which led to more selling.

The dollar rose 0.1 percent against a basket of major currencies, erasing early losses after data showed a decline in the number of Americans filing new claims for unemployment benefits exchange to its lowest level in eight and a half years.

And exposure to the precious yellow metal is also under pressure from the rise in equity markets after signs of improved economic conditions in Europe and China.

And silver fell in spot transactions two percent to 20.47 dollars an ounce.

Platinum fell 1.2 percent to 1461.20 dollars an ounce.

Palladium fell 0.3 percent to $ 866 an ounce

Gold prices fell during trading on Wednesday from its lowest level of $ 1308.00 down to low levels 1304.32 an ounce, while the opening came at levels of $ 1307.01 an ounce.

Technical Analysis:

Note the return of gold higher levels of moving average 50 and 200 days, as well as to return the highest levels of psychological support in 1300 dollars per ounce, as well as to overcome the resistance levels for the line downward trend, in conjunction with the positive Stochastic, on the other hand has the form of gold significant resistance at levels of 1344.00 dollars.

Positive scenario:

The power of gold in the highest levels of stability resistance of $ 1300 an ounce, gold will equip access to the resistance levels of $ 1344 an ounce, it is worth mentioning that the recovery of gold unconditional resistance levels to exceed 1323 dollars per ounce.

Negative scenario:

On the negative side, the return of gold down the resistance levels important $ 1,300 an ounce, gold will be forced to reach the levels of 1278 dollars per ounce.

Gold prices settled above $ 1,300 an ounce on Monday on expectations the escalation of geopolitical risks, after the United States called for Russia to respond to questions about the downing of a passenger in the Malaysian eastern Ukraine.

Spot gold has never seen little change at 1311 dollars per ounce (SEC), after it fell 0.5 percent on Friday.

And trading volumes were weak, as the Japanese market is closed for a holiday.

The precious metal rose 1.4 percent on Thursday after news of the downing of a passenger Malaysian, but investors were quick to take profits in the next day, which led to the decline in gold two percent during the week to score the first weekly loss in seven weeks.

Said a trader in Singapore that “despite the decline in the previous session, there is enough demand for the metal safe haven, what will keep prices above $ 1,300.”

Silver rose 0.19 percent to 20.87 dollars an ounce.

And platinum rose 0.35 percent to 1486.99 dollars, and palladium rose 0.14 percent to 877.6 dollars per ounce.