CATEGORY Gold

Gold falls to 3-month low, posts third weekly loss in a row

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Gold falls to 3-month low, posts third weekly loss in a row

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FXStreet (Córdoba) – Gold faced a strong sell-off on Friday and scored a fresh 3-month low sub $1,100 an ounce, with the metal poised to post its eight daily loss in a row and its third weekly decline.

The dollar strengthened across the board, dragging gold prices to a 3-month low, as a much stronger than expected US jobs report lifted expectations of a Fed rate hike in December after Yellen said earlier this week the decision would still depend on incoming data.

US economy added 271,000 new jobs in October versus 180,000 expected and up from 237,000 the previous month, according to the nonfarm payrolls report. Meanwhile, the unemployment rate dropped to 5.0% versus 5.1% expected.

Gold scored a low of $1,085 an ounce and it was last trading around $1,090 an ounce, recording a 1.18% daily loss.

Gold faced a strong sell-off on Friday and scored a fresh 3-month low sub $1,100 an ounce, with the metal poised to post its eight daily loss in a row and its third weekly decline.

(Market News Provided by FXstreet)

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Gold drop stalls after US ISM data

FXStreet (Mumbai) – The drop in the gold prices appears to have stalled around USD 1134.15 (50% of July low-Oct high) after the US ISM data showed manufacturing activity stagnated in October. USD resilientSo far, the markets have not reacted negatively…

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Gold erases daily gains

FXStreet (Córdoba) – Gold ended Monday flat around $1,164.00, after a failed attempt to regain the upside earlier in the day as the dollar weakened broadly following another series of disappointing US data. Asian markets started the day with a strong footing, rushing to price in the latest PBoC decision to ease monetary policy further to boost local growth.

But investors quickly realized that the measures taken were far from enough, while keeping an eye on whether the Fed may say this Wednesday. Gold was also under pressure also amid sluggish demand from India, the major physical buyer.

Gold technical view

“Daily basis, the commodity continues trading a handful of pips above its 200 DMA, while the 20 DMA has extended its advance to converge with the larger moving average around 1,160.90, now the immediate support”, says Valeria Bednarik,chief analyst at FXStreet. “In the same chart, the technical indicators have extended their bearish slopes towards their mid-lines, increasing chances of a continued decline. In the 4 hours chart, the price failed to advance above a bullish 20 SMA earlier in the day and extends now below it, whilst the technical indicators are posting tepid retracements from their mid-lines, in line with the longer term outlook”.

Support levels: 1,160.90 1,153.35 1,142.50. Resistance levels: 1,170.90 1,1179.30 1,191.60.

Gold ended Monday flat around $1,164.00, after a failed attempt to regain the upside earlier in the day as the dollar weakened broadly following another series of disappointing US data. Asian markets started the day with a strong footing, rushing to price in the latest PBoC decision to ease monetary policy further to boost local growth.

(Market News Provided by FXstreet)

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Gold moves off Friday’s lows

FXStreet (Córdoba) – Gold prices edged slightly higher on Monday as the greenback weakened across the board following another round of disappointing US data as investors gear up for the Federal Reserve policy decision on Wednesday.

Greenback weakness intensified, underpinning the yellow metal, after data showed that the pace of new homes sales in the US plunged 11.5% in September to a 10-month low.

Gold rose to a daily high of around $1,170 an ounce but lacked momentum to extend gains and settled in a range over the last hours. Gold is recovering from a 10-day low scored on Friday.

Gold prices edged slightly higher on Monday as the greenback weakened across the board following another round of disappointing US data as investors gear up for the Federal Reserve policy decision on Wednesday.

(Market News Provided by FXstreet)

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Gold suffers sharp monthly loss

Gold settles below $1,150 an ounce

FXStreet (Córdoba) – Gold failed to extend gains into the American session on Wednesday and closed the day little changed around $1,146 an ounce, having scored highs above $1,150.

The yellow metal has been supported by expectations the Fed may further delay the lift-off following a disappointing jobs report released last Friday.

Gold technical view

“Daily basis, the positive tone persists, as the price holds well above a bullish 20 SMA, whilst the technical indicators have partially lost their upward momentum, but hold well into positive territory. In the same chart, is now at sight a long term descendant trend line coming from 1,795.84, September 2012 monthly high, at 1,158.30 for this Thursday, which if broken, should confirm a continued advance in the price”, said Valeria Bednarik, chief analyst at FXStreet. “Shorter term, the 4 hours chart shows that the price held above its 20 SMA that anyway lost upward strength and turned flat, whilst the RSI indicator retreats from overbought levels and heads south around 62, maintaining the upside limited and supporting a downward corrective movement, particularly on a break below 1,142.50 the immediate support”.

Bednarik locates next support levels at 1,142.50 1,130.10 1,121.80, while she places resistances at 1,153.60 1,158.30 1,165.00.

Gold failed to extend gains into the American session on Wednesday and closed the day little changed around $1,146 an ounce, having scored highs above $1,150.

(Market News Provided by FXstreet)

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Shayne Heffernan Gold Price Report

Gold closed up 24.580 at 1,137.740. Volume was -0% below average (neutral) and Bollinger Bands were 17% narrower than normal. Open High Low Close Volume___ 1,113.6801,141.5001,104.1201,137.740 0 Technical Outlook Short Term: Neutral Intermediate Term: Bearish Long Term: Bearish Moving Averages: 10-period 50-period 200-period Close: 1,131.14 1,119.39 1,178.12 Volatility: 22 16 17 Volume: 0 0 0 […]

The post Shayne Heffernan Gold Price Report appeared first on Live Trading News.

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Gold stuck between strong USD and weak equities

FXStreet (Mumbai) – Gold prices trade flat as the metal remains supported by have demand, while upside remains restricted by a stronger US dollar.

Trades above support at USD 1132.90/Oz

Prices currently trade above the support at USD 1132.90/Oz (November 2014 low). The downside is being protected by the 1% loss seen in the pan-European Euro Stoxx equity index. Meanwhile, the US dollar trades on a positive footing in Europe as investors believe the rate hike in 2015 is still possible.

Consequently, the metal has found itself stuck largely in the range of USD 1131-1135/Oz levels. The metals traders would keep an eye on the USD index and US stocks ahead of Fed’s Lockhart speech.

Gold Technical Levels

At USD 1134.50/Oz levels, the immediate resistance is seen at 1150.00, above which the prices could rise to 1169 (Aug 24 high). On the other side, support is seen at 1113.55 (50-DMA) and 1100 levels.

Gold prices trade flat as the metal remains supported by have demand, while upside remains restricted by a stronger US dollar.

(Market News Provided by FXstreet)

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Gold stabilizes above $1130

FXStreet (Córdoba) – Gold is trading around $1133, down almost $5 from Friday’s closing price. It is the first decline since last Tuesday. From Wednesday to Friday rose 3% and today is retreating 0.50%.

XUA/USD rally eases

The price of the yellow metal bottomed during September at $1098 (Sep 11 low) and then turned to the upside, accelerating since Wednesday. On Friday peaked at $1141.60/oz hitting the strongest since September 1.

Today is pulling back but stills hold above the $1130 support area, that capped the decline earlier.

Gold short term levels to watch

To the upside immediate resistance lies at $1135, $1140 (daily high) and $1148. On the flip side, support might be located $1129.70 (daily low), $1123 and $1115.

Gold is trading around $1133, down almost $5 from Friday’s closing price. It is the first decline since last Tuesday. From Wednesday to Friday rose 3% and today is retreating 0.50%.

(Market News Provided by FXstreet)

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