Gold continued stability within a relatively narrow trading range, rising above the support levels for scope of the recent stability without the key resistance levels for the last downlink wave. Based on that scale lateral forces us to remain neutral, with waiting confirmation signals through penetration or break a trend lines formed previously.
Support 1325.00 1317.00 1313.00 1305.00 1292.00
Resistance 1337.00 1343.00 1350.00 1358.00 1368.00
Gold prices rose significantly, while adding more than 1 percent because of the budget debate in the United States mentions that Congress must reach an agreement on the federal budget next Monday, otherwise the government will stop working.
Gold closed at a price of 1336 dollars per ounce after it opened on the price of 1324 dollars per ounce.
GOLD support and resistance points
R1 1342.6 S1 1324.1
R2 1348.4 S2 1318.3
R3 1357.7 S3 1309.1
Pivot Point: 1333.4
Gold re-test the resistance levels falling for the last downlink wave from the upper levels 1433.00, which converge at the SMA (simple moving average) 50 days about 1350.0 levels, where the price must penetrate resistance levels to confirm more ups during the week. Based on this tendency will remain neutral until check previous hack.
Support 1335.00 1330.00 1317.00 1313.00 1305.00
Resistance 1344.00 1352.00 1358.00 1368.00 1375.00
Gold has formed a hammer or bar cuneiform on Friday. And has made this command when level Fibonacci fell 50% for the most recent moves from the lower level at 1180.28 annually to rise in August at 1433.85.
On the daily chart, we can see that the pair has bounced back from these dotted twice recently and this may make it the third fixed. Although the prices made their highest at the opening of the market, the high last Friday has already been hacked, it is important to see this happen again when start sizes sessions top in Europe and America in order to get into the market. If it happened, we can begin to consider the goals or the resistance at around 1358 and 1375 and 1403 on the way to the top to 1450. Below that level could see support at 1306 and 1277 (also 61.8) and, of course, 1180.
Gold dropped 0.08%, to close at 1,326 /OZ after the truce in the Middle East where Syria will deliver the chemical weapons. And technically, according to Fibonacci retracement level on the scheme eight hours, if you skip the Gold turnpike resistance level at 1,334 dollars, it pays price towards 1,353 dollars, however, you may drop gold in terms of prices in the direction of the support level at 1,304 dollars, and if you skip the metal this level is expected to decline in prices up to $ 1,272.
| Resistance | 1353 | 1372 | 1385 |
| Support | 1314 | 1304 | 1272 |
Gold futures fell over a period of four weeks during the European morning hours on Thursday , amid speculation that the Federal Reserve will reduce the bond-buying program at its next policy next week .
Contributed to some technical selling also in losses after lower prices through key support levels .
On the Comex division of the New York Mercantile Exchange , traded gold futures for December delivery at $ 1 345.70 a troy ounce during European morning hours , shedding 1.3%.
Gold fell by 1.5% in the earlier to reach the lowest price in the session at 1, 343.60 dollars an ounce , the lowest price since 15 August to August .
In December contract ended Tuesday’s session unchanged at 1 , 363.80 dollars per ounce .
Was likely to find support at 1 gold , $ 318.10 an ounce , the lowest price as of August 15 and resistance at 1 , 387.10 dollars per ounce, the highest price since Sept. 10 .
Losses accelerated after gold prices break below the level of 100 -day moving average near 1356 – dollars an ounce , triggering a wave of automatic sell orders amid bearish chart signals .
Market participants awaited weekly data on initial jobless claims in the U.S. later in the session for clues on the strength of the economic recovery.
Gold dealers awaited U.S. data recently to measure if it will lead to the strengthening or weakening the case for the Fed to reduce bond purchases.
He is scheduled to meet on 17-18 September Bank to review the economy and central bank policy assessment .
The Wall Street investment bank Goldman Sachs in a report Wednesday that he expects that “the price of gold will decline in 2014 against the backdrop of accelerated activity in the United States and the issue of reducing the monetary policy
The bank said it was maintaining its goals for three years and six months at level 1, $ 300 ( an ounce ) . For 12 months , and it was the goal of Goldman is U1 , $ 175 ( an ounce ) .
Decline in the precious metal on track by 20% for the year as traders bet that the U.S. economy is improving , led by the Fed , which will reduce the stimulus program by the end of the year .
The prices of gold came under additional Dgtoot after declining threat of U.S. military intervention in Syria, which negatively affects the safe – haven allure of the precious metal .
Instead, President Obama said he would discuss the plan proposed by Russia for Syria to develop chemical weapons under international control .
Gold prices fell to their lowest level in three weeks during the Asian trading on Wednesday, before recovering by purchases from bargain hunters, but the precious metal loses its appeal as a safe investment amid hopes the possibility of avoiding a U.S. military strike to Syria.
Syria has accepted a Russian proposal to give up its chemical weapons, but U.S. President Barack Obama said, “It is too early to say that the initiative will succeed,” and pledged to keep the military forces are ready to strike if diplomacy fails.
The exposed gold – which lost more than 18 percent of its value since the beginning of the year – also under pressure from expectations that the U.S. central bank decides to reduce its monetary stimulus program, after a meeting of the Open Market Committee Federal Reserve Board 17 and September 18.
The price of gold fell for immediate sale to $ 1356.85 an ounce, its lowest level since August 22, before recovering to $ 1363.96 by 0455 GMT.
The U.S. futures settled for gold at $ 1364.10 an ounce.
Gold resumed downward trend which began emerging from the top of the channel shown on the daily chart above, where the descending movement abolished the bullish scenario yesterday during intraday basis, with the arrival of the price when the main descending levels of support at 1374.00. Probably that rushes the price of down towards 1374.00, however, prefer to move sideways, in terms of price near key support levels, with waiting bullish signals bounce or break the downside.
The short-term trend (the trends that last from two weeks to two months)
If the price has achieved 20% of the target before achieving this is an entry point to cancel the signal expectations.
Support 1374.00 1368.00 1358.00 1352.00 1346.00
Resistance 1389.00 1395.00 1405.00 1416.00 1422.00
Recommendations :Neutral.
Gold prices recovered at the end of trading yesterday after the rise in demand for gold as a safe haven, where levels rose to $ 1415 / ounce to settle above $ 1,400 again.
After gold managed to level $ 1400 lead us to the targets at 1450 which provides a positive signal stochastic supports continuation of the bullish trend.
Expectations of a positive day in between: support at 1390.00 and resistance 1470.00
Gold fell below $ 1,400 an ounce on Monday as the postponement of a possible U.S. military action against Syria and improving economic data from China and Europe boosted appetite towards involving risky assets, limiting the metal’s appeal as a safe haven.
However, silver rose by about 3.8% earlier, benefiting from strong economic data in China, where the industrial sector in August, the best performance achieved more than a year ago.
Gold fell for instant transactions rose 0.4% to $ 1,389 an ounce at 11:58 GMT, after dropping to its lowest level in a week at $ 1,374 earlier. And thus accept the prices on the third day of declines.
Silver rose by 3.2% to $ 24.24 an ounce.
Dealers said that trading volumes are likely to be weak throughout the day, because the U.S. markets closed for the Labor Day holiday.
The focus will be on the major central bank meetings over the week and a series of strong U.S. economic data, which concludes the report and the U.S. non-farm jobs