Gold climbed $5.04 to $1294.24 by a little before 8AM EST before it dropped back to $1285.54 in the next four and a half hours of trade, but it then bounced back higher into the close and ended with a loss of just 0.04%. Silver slipped to as low as $19.052 and ended with loss of 0.1%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 9 May, 2014
The gold price closed at $1,289.20 down only $0.20 yesterday, in New York. In Asia and London the gold price lifted back to $1,291. The gold Fixing was set at $1,289.00 down $2.25 and in the euro at €933.246 up €7.22 while the euro stood at $1.3812 nearly 2 cents down from the week’s peak. Ahead of New York’s opening the gold price stood at $1,289.40 and in the euro at €933.33. Full Story
Gold held steady around $1,290/oz today, underpinned by strong chart support. Unless, it rises by some 1% today, it is set to fall marginally for a second week. Traders are likely to be nervous about being short gold due to the “event risk” given the significant continuing geopolitical tension due to the crisis in Ukraine. Full Story
By: Manan Somani, Insignia Consultants - 9 May, 2014
Sundays Ukrainian referendum will be the key and will dictate how things progress in the future. In my view the referendum will not be accepted by NATO if the same supports Russia. NATO and its allies wants to get hold of Ukraine and any Russian bias will not be accepted and the war will continue. Full Story
Gold climbed to $1294.85 at about 7:45AM EST before it dropped back to $1285.59 in the next hour of trade, but it then chopped back higher into the close and ended with a loss of just 0.016%. Silver slipped to as low as $19.126 and ended with a loss of 0.73%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 8 May, 2014
The gold price closed at $1,289.40 down $18.40 yesterday, in New York. In Asia and London the gold price held above $1,290 as the dollar continued to weaken against all currencies ahead of the Fixing. The euro weakened to $1.3944. The gold Fixing was set at $1,291.25 down $19.75 and in the euro at €926.026 down €16.055. Ahead of New York’s opening the gold price stood at $1,290 and in the euro at €926.16. Full Story
After rising to near its highest level in three weeks early yesterday at $1,315/oz, gold experienced its biggest intraday price fall in three weeks yesterday, falling to $1,290/oz by close of New York trading. Silver likewise retreated from the $19.70/oz level to the $19.20/oz range. Full Story
By: Manan Somani, Insignia Consultants - 8 May, 2014
Repeated failures to break past $1321 result in profit taking in gold and subsequent short positions getting built up. It is back to square one for gold and silver as they need to trade over $1282 and $1906 to prevent another sell off. Federal reserve chairmans view on US economy has been fairly optimistic. US economic recovery in future will be dependent on a weaker US dollar. Any sustained strength in the greenback will result in lower exports and reduced hiring. Full Story
Gold gained $6.70 to $1314.50 in late Asian trade before it fell to as low as $1286.82 by early afternoon in New York and then bounced back higher at times, but it still ended with a loss of 1.41%. Silver slumped to as low as $19.284 and ended with a loss of 1.28%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 7 May, 2014
The gold price closed at $1,307.80 down $2.70 yesterday, in New York. In Asia the gold price was lifted to $1,313 and London held those levels ahead of the Fixing. The euro weakened to $1.3926. The gold Fixing was set at $1,311 up $2.50 and in the euro at €942.081 up €2.472. Ahead of New York’s opening the gold price stood at $1,311 and in the euro at €941.13. Full Story
Technically, the gold price would be expected to break out at some point but the direction of the breakout is unclear. A breakout to the upside would have to clear $1,331/oz and then trade above $1,392/oz, towards the psychologically important $1,400/oz level. Full Story
Gold traded between $1308.12 and $1314.01 in Asia before it fell back to $1305.20 by a little after 10AM EST, but it then bounced back higher midday and ended with a loss of just 0.21%. Silver rose to $19.705 in London, but it then fell back off in late trade and ended with a loss of 0.25%. Full Story
By: Chintan Karnani, Insignia Consultants - 6 May, 2014
I have often been asked why gold is unable to break past 30,000 rupees. Gold has been trading in a 27500-30700 range for the past few months. We try and look at various technical studies to assess where it is headed. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 6 May, 2014
The gold price closed at $1,310.50 up $12.20 yesterday, in New York. In Asia and London it held those levels ahead of the Fixing. The euro weakened to $1.3926. The gold Fixing was set at $1,308.50 and in the euro at €939.609. Ahead of New York’s opening the gold price stood at $1,307.45 and in the euro at €938.15. Full Story
The release of April U.S. non-farm payrolls data last Friday caused confusion across financial markets as traders and investors tried to look beyond the headline figure. The headline data showed a higher than expected number of new jobs added and a lower unemployment rate. But once the details were digested it became apparent that the unemployment rate had fallen because the labour participation rate had dropped due to more and more people dropping out of the U.S. labour force. Full Story
Gold climbed $17.38 to $1315.58 in early New York trade before it fell back off a bit in midmorning trade, but it still ended with a gain of 0.94%. Silver surged to as high as $19.727 and ended with a gain of 0.82%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 5 May, 2014
The gold price closed at $1,298.30 in a $13.40 rebound on Friday, in New York. In Asia and London it was being lifted strongly to $1315.00. London was closed so we watch to see just how New York will play gold. The euro stood at $1.3874. Ahead of the opening of New York, gold stood at $1,311.65 and in the euro at €945.65. Full Story
By: Manan Somani, Insignia Consultants - 5 May, 2014
Got foxed by the gold's rise after the release of US April nonfarm on April. Our trailing stop losses were triggered at $1287 and thereafter clients were advised to go long in gold on a break $1292. Our clients made for the intraday losses nonetheless it was a bad judgment. Silver trader made profit as they were advised to go long on a break $1920. (No short call was given in silver after the release of NFP on April). Full Story
The charts above shows the relationship between convergence and divergence between 100 day moving average (MA) and 200 day moving average MA) . In the past whenever 100day MA and 200 day MA has converged, the same has signified big moves for gold. The moves due to convergence between 100day MA and 200day MA has always been sustainable and a new direction has been formed. Full Story
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