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Gold prices rose for a third straight day as part of a corrective movements taking place in prices now, amid investors’ access to markets, especially after gold prices reached their lowest levels since about a month ago.

From the other side has been affected by the price of the precious metal positive statements issued by the U.S. economy, which in turn contributed to reducing the gains of the U.S. Dollar Index, which has an inverse relationship with gold.

Statements Janet Yellen, which was nominated formally for the position of Governor of the Federal Reserve next year, also contributed to pay the price of gold, where she softens it is imperative that the U.S. economy is improving before you start cutting policies of quantitative easing, and indicated that the economy is making progress, but the unemployment rate around 7.3% stilltoo high and inflation low for acceptable levels at 2.0%., which means that the Fed will postpone doing downsizing program of quantitative easing.

Gold re-test the top of the main descending channel as was expected earlier, where he found a strong price resistance levels, seeking to resume a downward trend, as we expect to be bearish tendency appeal today from levels below 1295.00, with target levels of 1278.00 and 1268.00.

Support 1280.00 1275.00 1264.00 1252.00 1240.00
Resistance 1290.00 1296.00 1300.00 1306.00 1320.00

Gold prices rose today after four sessions of declines , which represented the lowest level since the center after it gave officials the Federal indications about the stimulus plans , which were mixed about the timing of the start in the process of downsizing, and has focused investors their sights on the statements made by the Fed in the state of Atlanta amid the absence of economic data from the American scene today.

According to the statements made by the Fed in the state of Atlanta Dennis Lockhart that he does not rule out that the FOMC step forward towards the process of reducing the stimulus plans , where he pointed to the possibility of doing this step at the next meeting and the last this year in the month of December / December stressing that the Fed to continue in the stimulus plans .

Gold price ended yesterday positive tendency now fluctuates around 1285.00, but without 1300.00 price stability would keep the bearish intraday trend persists even now, supported by the negative pressure, which puts the SMA 50.

Recall ahead and objectives that mainly start at 1230.00

The trading range expected for today is between: Support Resistance 1240.00 and 1300.00

Gold prices rose slightly in early trading today after four consecutive sessions of decline in under a state of uncertainty dominating the markets on when to reduce the quantitative easing policy by the Federal Reserve Bank.

Gold dealings ended yesterday for fourth day of Successive loss to decline by 1.2 percent, its lowest level in the month of 1261.32 dollars an ounce amid concerns about near the Federal Reserve Board to reduce monetary stimulus program.

Gold rose by at 07:35 GMT to the level of $ 1273.18 per ounce from the opening level of $ 1265.90, and recorded the highest at $ 1274.03 and the lowest at $ 1265.73.

From a technical perspective, the upward movement will face difficulty in obtaining power while the prices are without Ichimoku clouds on the daily chart. To a lot of resistance, such as the level of 1293 and 1306, but the upward movement, of course, it will be skipped levels of 1277 and 5/1282 before that. However, in the event of increased downward movement of the bearish pressure and pulled prices to below yesterday’s low, believe that the next step will be the lowest level for 15 October at 1251.60. If the price has fallen below the 1251.60 level, there is little support until 1237.

Gold fell in Asian market on Tuesday, extending a wave of losses for the fourth day in a row to its lowest level in three weeks amid rising U.S. currency dollar against all major currencies in addition to the high return on U.S. bonds as an indicator of the stability of the U.S. economy and the direction of the Federal Reserve to reduce stimulus program cash .

Gold stock finished yesterday down 0.5 percent amid amid signs of global economic recovery after data released recently by the U.S. economy in addition to higher industrial production in China during the month of October as an indicator of the forces on the direction of the second largest economy in the world to achieve the targeted growth set by the Chinese government 7.5 percent .

Gold is trading by 07:45 GMT on the level of 1281.45 dollars an ounce from the opening level of $ 1281.81 , and recorded the highest level of $ 1283.56 and a low of $ 1276.46 lowest level since October 17 last October.

Gold fell as simple as a result of low liquidity in the market yesterday. The precious metal is trading in a bearish momentum, where he faces a strong support level in the range 1,275 $. Break below this support level may cause a strong decline towards 1,260 $ breached may lead gold towards the next support level of 1,250 $. Gold prices will be affected by the negative momentum of Wall Street, as long as this momentum continues, gold prices will continue to fall.

Resistance :1295 1305 1320
Support : 1275 1272 1250

Gold settled on Monday near the lowest level in three weeks amid assess investors stimulus program the U.S. after the jobs report released on Friday, which showed an increase in the reverse is expected that dispelled fears of economy is affected by the budget crisis and raise the debt ceiling, which caused closure of a partial U.S. government for the first time17 years ago.

Gold ended Friday’s trading down 1.5 percent amid strong rise of the U.S. dollar and precious metals prices fell to its lowest level in three weeks, $ 1281.14 per ounce, gold fell by 2.1 percent over the past week in the second weekly loss in a row.

Gold prices fell in the last its New York Stock Exchange today, and this decline came the yellow metal amid positive data from the United States in addition to the rise Kabiralve seen the U.S. dollar.

still expect gold prices to remain in a large support area between 1488 and 1150 for several weeks. From the perspective of the daily key levels that must be attention will be 1293 and 1277 .

In case penetrated prices to below 1277 , most likely that the market will test the levels of 1268 and 1252 . Since that prices do not fall in a straight line , it is possible to expect a rebound in the event of the buyers decided to enter the level at about 1277 .

Hack beyond the level of 1293 it is possible to give the upward movement of force which is needed to re – visit the area between 1303-1306 . In order to ease the selling pressure , you will need the upside movement to push prices beyond 1326.