Category: Gold Prices

Continue narrow band control over the trading price of gold recently, to remain confined between the levels of support 1300.00 and resistance posed by the SMA 50 at 1328.00, and therefore, our position neutral remains valid until now, waiting to confirm the price skip the one mentioned levels and get the signals more precise direction of the next.

The trading range expected for today is between: Support Resistance 1290.00 and 1350.00

General tendency is expected for today: neutral

Gold continued its decline, but gold slightly and movement was neutral as most traders await what will happen to the U.S. economy, especially after the progress achieved by the simple end of the dollar last week

Gold opened at $ 3161 per ounce and closed at 1314 dollars per ounce.

GOLD support and resistance points

R1 1320.3 S1 1311.6

R2 1323 S2 1308.9

R3 1327.4 S3 1304.6

Pivot Point: 1316.4

Although Gold prices (XAU/USD) settled high reached 1359.50 after the said institution ADP research that the private sector was not added to 130,000 jobs during the month of October , and is less than expectations , which were at 151,000 , and the announcement of a policy the Fed to push prices to below the level of 1345.

As stated Open Market Committee Federal : ” The Committee considers an improvement in economic activity and labor market conditions since it began in the asset purchase program in line with the potential growth in the economy more broadly However, the Committee decided to wait until the show more evidence that progress will be steady before adjust to the pace of purchases. accordingly , the Commission decided to continue to buy more securities backed by mortgages by 40 billion dollars a month and Treasury securities at the long – term pace of $ 45 billion a month. ” And has been at the end of the committee meeting , which lasted for two days.

Seems that market participants were expecting a more lenient permit from the U.S. central bank . Technically, the failure to close above Ichimoku cloud on daily time frame (f also draw Heights lowest and reductions minimum ) for 3 days in a row indicate that the upward movement lose its strength .

In the event of increased downward movement of the pressure and managed to pull prices below the 1335.92 level, where top Ichimoku cloud (four-hour chart), it is probable that the pair is testing the support level at 1326. Close below this level may indicate we are heading to the level of 1311. However, in the event that the (XAU/USD). dollar to hold above the 1335.92 level began to rise, the first challenge will be waiting upward movement at 8/1345.

Beyond that level, there will be resistance at 1356. Close above this level will give the upward movement of force needed to reach the level of 1366. Today, the markets will focus on PMI data from Chicago and the demands of unemployment.

XAU/USD yesterday ‘s hearing loss , as the U.S. dollar has made some strength before the results of the Fed meeting .

Recently, the belief that the U.S. central bank will have to maintain the stimulus program through large purchases of assets, was very supportive for gold , but it seems that the expectations about the outlook for lenient policy by the Fed has already been calculated in the market .

In recent economic data , the consumer confidence index came from ” The Conference Board ” at 71.2 , down from the 80.2 rate during the last month, which was below expectations at 75.2 . The index of real estate prices , ” Standard & Poor’s / bag Chelller ” stronger than expected , but retail sales index and the price of the product was less than expected.

Few disappointments in U.S. data were not able to have a long -term impact on the U.S. dollar, and we think that ‘s something you should pay attention .

As I mentioned in the previous analysis , closing below the support level at 1345 it is possible to start some of the collection of additional profits . Now back to below that level and in the event of continued downward movement to control the price of gold , that we will see the 1335.92 level on the charts. Hack below that level , which marks it line ” Tinkan – age ” ( moving average for the ninth time – red line) on the daily time frame , it is possible that leads me to think that we are heading back to the level of 1326 .

To the top, will be on the upward movement breaking through resistance at the 1354 level in order to obtain additional momentum to reach the level of 1366 and the 1375.20 level . Beyond that, the downward movement will be to wait when 1380 and 1392 .

Gold prices stabilized at a level slightly lower yesterday, as investors took a cautious stance before the announcement of the Bank’s policy meeting Fed.

The XAU/USD at the height reached to 1361.76 after the report issued by the National Association of Realtors revealed that sales of previously owned homes fell by 5.6% during the month of September. Separately, the data announced by the Federal Reserve showed that industrial production advanced by 0.6%. Economic recovery is somewhat weaker than the Fed’s expectations, and for this reason, the U.S. dollar significantly affected by the weak data.

While the disappointing figures reinforced expectations that the Fed will delay reducing operations the asset purchase program until the spring, I think that the market has an upward tendencies in the short term. Technically, the trading on a daily basis is a positive thing and I do not have any intentions to take positions short until we close below the Agheimat and even passes the line (moving average for the period ninth – red line) under Ht “Keygen – age” (moving average for 26 days – green line) on the chart for four hours.

Of course this does not mean that prices will not retreat . In the meantime , until the announcement of the Federal Open Market Committee , I think we will stay between 1366 and 1345 . If the downward movement has been able to increase selling pressure and exceeded all this support , it is likely that the pair back the level of 1335 visit next.

Close below this level could indicate that the level of 1326 , which marks it dropped 23.6 Based on the move down from 1795.75 to 1180.21 , may be the new target . However, the rise above the level of 1366 could tempt some investors to return to the market and increase the probability of a progressive attempt to re-visit the highest level for the date of 19 September at 1375.20 . Beyond that, it will be important challenge awaiting upward movement when the area between 1380-1392 .

XAU/USD progress by 1.01% on Thursday, as the decline in the U.S. dollar continues to lure some investors to return to the market.

Been the U.S. dollar under pressure amid expectations that the Fed will maintain its asset purchase program at the pace of a monthly $ 85 billion until next year in order to achieve steady progress in the labor market, and as a result, we have seen higher prices to their highest level since September 2. In recent economic data, the preliminary reading of index “Marict” industrial PMI at 51.1, down from last month at 52.8.

Seems to be the grim economic figures will continue contributing to the rising gold prices . Although we penetrate beyond resistance at the 1345 level yesterday , the charts are still giving us mixed signals technically. For this reason, I can not exclude a decline towards 1326 before continuing to rise . In that case , on the way down, support will be located at 1341 , 1330.95 and 1326.

Daily close below the support level 1326 will be a negative signal , and it is possible that brings us back to the level of 1311 at least. Upward movement must climb above 1345 in order to achieve more power. In the event , breaking through a pair of  XAU/USD over the barrier of 1354 , I believe that the upward movement will have enough power to reach the level of 1366 . Today, participants will in Batnzar market consumer sentiment data from the University of Mich. , and durable goods orders report

Gold prices rebounded immediately after the announcement of an agreement on raising the U.S. debt ceiling, which led to the U.S. government’s return to normalcy.

Gold rose to the top of 1320 after a strong decline of gold because of concerns Bashan U.S. budget crisis and its consequences on global economies on the track reached gold to support level 1250.

The satisfaction that prevailed following the approval of markets supported the stability of gold higher than 1300.

The following peaks that support bullish outlook for 1340 and then went to the 1375 Summit 1400 will remain the strongest and the strongest supporter of the performance of gold to the upside.

Gold near its lowest level in three months on Tuesday , with the continued exodus of funds from metal boxes with the progress lawmakers made ​​some progress towards resolving the budget crisis .

By the time of 0614 GMT, the spot price of gold up 0.2 percent to $ 1270.70 an ounce after rising in the previous session following a wave of losses over four days .

The U.S. gold futures fell December delivery 0.5 percent to $ 1270.60 an ounce.

And landed Spot silver was up 0.6 percent to a record 21.12 dollars per ounce .

Platinum fell 0.5 percent to $ 1370.74 an ounce and palladium fell 0.4 percent to $ 709.97 an ounce

Technically gold resumed the negative trend after yesterday’s decline secondarily, to achieve the first target at 1273.00 support levels. Continued price Tzbzbath around key support levels earlier, but maintained a full tilt downward. That meanwhile will maintain a negative outlook, where stability below 1273.00 levels must be cleared the way for more Almkhasr, with the direction of sight on the main descending levels at 1180.00.

Support 1267.00 1260.00 1242.00 1235.00 1225.00

Resistance 1273.00 1277.00 1283.00 1283.00 1302.00

Recommendations
Selling gold below 1285.00 levels, with a target levels 1273.00,1260,00 then 1235.00.