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Gold & metals
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bsiong
Supreme |
30-Nov-2013 09:24
Yells: "The Greatest Wealth is Health" |
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x 0
x 0 Alert Admin |
Gold set for worst loss in 5 months on US Fed stimulus concernsChicago (Nov 29) Gold edged up on Friday as the US dollar fell, but was still headed for its biggest monthly drop in five months on signs that recovery in the US economy could lead to easy central bank money drying up. Gold has shed more than five percent in November and has lost around a quarter of its value so far this year, which puts it on track to post its first annual loss in 13 years. It has stayed below $1,300 for the past three weeks and has been largely rangebound in the last few sessions due to thin trading around the US Thanksgiving holiday on Thursday. Spot gold rose 0.7 percent to $1,251.95 an ounce by 1258 GMT. It fell to a 4-1/2 month low of $1,227.34 on Monday. U.S. gold futures rose 1.2 percent to $1,252.10 an ounce. Traders see the next resistance levels at $1,255 and $1,290, while support stands in the $1,220 area. The dollar fell 0.3 percent against a basket of currencies, while European shares traded close to a 5-1/2 year high, heading for a seventh week in positive territory out of the last eight. " The labour market report next week could be crucial because if it is strong the market would fear again that the Fed would taper in December," Quantitative Commodity Research owner Peter Fertig said. " That is clearly the focus and will keep gold rather rangebound ... gold will continue to react to the U.S. data as this always leads to discussion about tapering." Monthly bond purchases worth $85 billion by the U.S. Federal Reserve over the past few years have burnished gold's appeal as an inflation hedge. The next major data release, U.S. non-farm payroll figures, is scheduled for Dec. 6. The Fed's next policy meeting will be held Dec. 17-18. PHYSICAL SUPPORT Buying from China, set to become the world's biggest consumer of gold this year, picked up this week. On Thursday, traded volumes of 99.99 percent purity gold on the Shanghai Gold Exchange hit their highest in seven weeks. Volumes for the week at the Friday close were the highest since the last week of September. |
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bsiong
Supreme |
29-Nov-2013 23:10
Yells: "The Greatest Wealth is Health" |
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x 0
x 0 Alert Admin |
Yesterday?s analysis expected more upwards movement from Gold. Price has moved higher, but it is not a convincing third wave? yet. |
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bsiong
Supreme |
29-Nov-2013 22:57
Yells: "The Greatest Wealth is Health" |
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x 0
x 0 Alert Admin |
By: DailyForex.com Gold market was predictably calm while the United States was on holiday. Although the pair has been suffering from weakening demand for physical gold since beginning of the month, the trading action is getting tight recently. So far, the support level at 1237 seems to be holding but rebounds are getting weaker as the perception that the major stock markets will continue to rally is depressing the attractiveness of safe-haven gold. In order to see the degree of pressure, we should also look at the XAU/EUR and XAU/GBP pairs. Just a couple of days ago both pairs hit the lowest levels since August 2010. Technically speaking, the bulls will be struggling to gain strong traction while the XAU/USD pair is moving below the Ichimoku clouds on the daily chart. From an intra-day point of view, resistance to the upside can be found at 1252 which happens to be the Tenkan-sen line (nine-period moving average, red line) on the daily chart. If the pair successfully climb above that level, it is likely that it is likely that the pair will test the 1261 level where the upper band of the Ichimoku cloud resides on the 4-hour time frame.
Beyond that, expect to see strong resistance at the 1268 level and I think this level is a strategic point for the bulls to conquer before they can march towards the 1293 resistance. On the other hand, a break below the 1237 would indicate that the bears won't give up before we retest 1225.50. Closing below 1225.50 could trigger another sell off which may drag prices down to 1200.
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bsiong
Supreme |
29-Nov-2013 22:46
Yells: "The Greatest Wealth is Health" |
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x 0
x 0 Alert Admin |
Social Sharing Gold market was predictably calm while the United States was on holiday. Although the pair has been suffering from weakening demand for physical gold since beginning of the month... |
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bsiong
Supreme |
29-Nov-2013 22:41
Yells: "The Greatest Wealth is Health" |
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x 0
x 0 Alert Admin |
Heightened demand for physical gold investments and a new Federal Reserve chief could work in gold investors' favor, " America's Source for Gold Investment Information" reports. Perennial gold... |
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Octavia
Elite |
29-Nov-2013 08:53
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x 0
x 0 Alert Admin |
With the bulk of the US still sleeping on this day of giving thanks, it is perhaps ironic that the Brits have been pounding away at the USD driving GBPUSD to 2013 highs. S& P futures jerked higher on the European open and clung to those gains, extending yesterday's small green close to new record highs (+4.5 points). US Treasury futures sold off modestly then recovered back to unch as the USD slipped gently lower (even as JPY weakness continued). Gold and silver are up around 0.5% from yesterday's close. The Brits are punding (pun intended) the USD... 
But that won't stop US stocks from rising... 
Treasuries round trip from earlier weakness... 
but gold has been limping higher (with no ubiquitous smackdown yet) since the US closed... 
Charts: Bloomberg |
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bsiong
Supreme |
29-Nov-2013 08:45
Yells: "The Greatest Wealth is Health" |
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x 0
x 0 Alert Admin |
Gold snaps two-day fall on lower dollar, Chinese buyingLondon (Nov 28) Gold snapped a two-day decline on Thursday, as the dollar edged lower and signs of physical demand emerged from Chinese buyers. Gains were kept in check by strong US economic data suggesting an end to the Federal Reserve's stimulus programme. Activity was relatively thin, as US financial markets were shut on Thursday for Thanksgiving. " There's a bit of physical-related buying from the Far East, including China," MKS SA head of trading Afshin Nabavi said. " Other than that, I don?t think we are going see a lot of fresh positions this week with the US on holiday," he added. Spot gold rose 0.6% to $1,243.65 an ounce by 2.55pm GMT. It fell to a four-and-a-half-month low of $1,227.34 on Monday. US gold futures rose 0.5% to $1,243.60/oz. " The story for gold remains pretty much the same ... and the drivers for now remain the dollar and the US data," VTB Capital Andrey Kryuchenkov said. The dollar index fell 0.2% against a basket of currencies, retreating after gaining from relatively positive US data in the previous session. US jobless claims unexpectedly fell last week and the November Thomson Reuters/University of Michigan consumer confidence index improved from a preliminary reading. The Chicago purchasing managers index held up better than expected last month after surging in October. However, a soft October durable goods report was the only dent to an otherwise upbeat set of figures. Investors speculate that strong economic data could prompt the Fed to cut back on its $85bn in monthly bond purchases, which have bolstered gold as a hedge against inflation over the past few years. As a gauge of investor sentiment, holdings in SPDR Gold Trust, the world?s largest gold-backed exchange-traded fund (ETF), fell 5.7 metric tonnes to 843.21 tonnes on Wednesday to their lowest since early 2009. The fund has seen outflows of more than 450 tonnes this year as investors put more money into rallying equities. The outflows from ETFs have been a big factor in gold prices dropping more than 25% in 2013. Chinese buying strong China, which is expected to overtake India as the biggest consumer of the metal this year, has seen a pick-up in demand this week due to lower prices. Traded volumes of 99.99% purity gold on the Shanghai Gold Exchange hit 18.3 tonnes on Thursday, their highest since October 8, according to Reuters data. China?s net gold imports from Hong Kong climbed to their second highest on record in October as it bought more than 100 tonnes of gold for a sixth straight month to meet unprecedented demand. Silver rose 0.2% to $19.68/oz, after falling 1% in the previous session. Spot platinum gained 0.5% to $1,355.55/oz after losing more than 1% in each of the previous two sessions and spot palladium gained 0.2% to $714.75/oz. |
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bsiong
Supreme |
29-Nov-2013 08:43
Yells: "The Greatest Wealth is Health" |
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x 0
x 0 Alert Admin |
 
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bsiong
Supreme |
28-Nov-2013 08:45
Yells: "The Greatest Wealth is Health" |
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x 0
x 0 Alert Admin |
Mid-Day Gold & Silver Market Report - 11/27/2013GOOD ECONOMIC FIGURES REVERSE EARLIER GAINS FOR GOLD Precious Metals have pared early gains following a batch of positive economic data. Reports showing stronger consumer sentiment in the U.S. and the eurozone, a drop in U.S. jobless claims and solid growth in the U.K. helped temporarily cool the demand for Gold and Silver as domestic investors continue to view upbeat economic news as bearish for Precious Metals. While prices dipped slightly in the U.S., physical Gold demand remains strong as lower prices offer a buying opportunity for retail investors and central banks. ''The very high imports are primarily an expression of China's undiminished appetite for gold,'' Commerzbank AG analysts said. ''Traders and jewellers continue to seize every opportunity to buy gold in response to noticeably increased demand among retail investors for jewelry, coins and bars in the wake of the price fall.'' While the Gold price remains under pressure, U.S. stocks were lifted by today?s economic news. ''Today good news economically is good news for the market,'' Jim McDonald, chief investment strategist at Northern Trust Corp., said. ''We got a dose of better data and that?s giving a bid to stocks.'' Continued news of improved consumer outlook along with better jobless numbers will weigh on the minds of investors who see positive news as an indicator of impending an reduction in the Federal Reserve?s monetary stimulus measures. At 1:08 p.m. (ET), the APMEX Precious Metals spot prices were:
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bsiong
Supreme |
28-Nov-2013 08:43
Yells: "The Greatest Wealth is Health" |
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x 0
x 0 Alert Admin |
Gold 2nd Attempt at Follow Through on Reversal FailsDaily
Chart Prepared by Jamie Saettele, CMT --- Gold's sliced through the 6/28 close (1234) on Monday before reversing higher and forming an outside day reversal.
--- The next few days are critical as follow through (close higher than today) would increase evidence that a near term low is in place. Tuesday and Wednesday's attempts both failed.
Trading Strategy: Flat
LEVELS: 1180 1208 1230 | 1253 1261 1269 |
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bsiong
Supreme |
28-Nov-2013 08:41
Yells: "The Greatest Wealth is Health" |
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x 0
x 0 Alert Admin |
Morning Gold & Silver Market Report - 11/27/2013GOLD UP ON MIXED DATA Gold held on to gains this morning after economic data was released. Though weekly jobless claims unexpectedly declined, durable-goods orders dropped by 2 percent in October. Most analysts didn?t expect much movement the day before the Thanksgiving holiday. Societe Generale analyst Robin Bhar said, ''I wouldn't expect much happening with Thanksgiving tomorrow ... but, if the data today comes in positive, there is always the question of whether the [Federal Reserve] could move to announce [quantitative easing] tapering in December or January.'' The final minutes of trading Tuesday saw stocks lose out on some gains. Most economists aren't putting much stock into the late movement, as Stephen Guilfoyle, chief economist at Sarge986.com said, ''Perhaps there was some conviction in the late-day selloff, or perhaps some traders closed out their positions today (Tuesday) and we?ll see them again on Monday.'' At 9 a.m. (ET), the APMEX Precious Metals spot prices were:
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bsiong
Supreme |
27-Nov-2013 21:12
Yells: "The Greatest Wealth is Health" |
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x 0
x 0 Alert Admin |
 Citi " Bullish" Gold And SilverYesterday's daily reversal in gold and silver has prompted Citi's FX Technicals group into a bullish position Read More |
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Octavia
Elite |
27-Nov-2013 09:47
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x 0
x 0 Alert Admin |
London gold price fixing under regulator scrutiny
 [LONDON] Every business day in London, five banks meet to set the price of gold in a ritual that dates back to 1919. Now, dealers and economists say knowledge gleaned on those calls could give some traders an unfair advantage when buying and selling the precious metal. The UK Financial Conduct Authority is scrutinising how prices are set in the US$20 trillion gold market, according to a person with knowledge of the review who asked not to be identified because the matter isn't public. The London fix, the benchmark rate used by mining companies, jewellers and central banks to buy, sell and value the metal, is published twice daily after a telephone call involving Barclays, Deutsche Bank, Bank of Nova Scotia, HSBC and Societe Generale.
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| Useful To Me Not Useful To Me | |||
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bsiong
Supreme |
27-Nov-2013 08:43
Yells: "The Greatest Wealth is Health" |
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x 0
x 0 Alert Admin |
Gold First Attempt at Follow-Through FailsDaily
Chart Prepared by Jamie Saettele, CMT - Gold's sliced through the 6/28 close (1234) on Mondaybefore reversing higher and forming an outside day reversal.
- The next few days are critical as follow through (close higher than today) would increase evidence that a near term low is in place. Tuesday's attempt failed.
Trading Strategy: Flat
LEVELS: 1180 1208 1230 | 1253 1261 1269 |
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| Useful To Me Not Useful To Me | |||
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bsiong
Supreme |
27-Nov-2013 08:41
Yells: "The Greatest Wealth is Health" |
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x 0
x 0 Alert Admin |
Mid-Day Gold & Silver Market Report -- 11/26/2013PRECIOUS METALS RELATIVIELY FLAT AS CONSUMER CONFIDENCE DOWN Precious Metals are trading slightly lower through mid-day trading. A stronger U.S. stock market and dollar are weighing on precious metals but many see the suppression as only temporary. Jeff Nichols, managing director at American Precious Metals Advisors said, ''Gold continues to be an innocent victim of the frenzy on Wall Street. Sooner or later, when the bubble bursts, equity investors will really lose their heads and gold stands to benefit, if not at first, certainly as the dust settles on Wall Street.'' U.S. consumer confidence fell for the third straight month as the year comes to a close. A lack of faith in government policies, a struggling economy and sluggish labor market are all starting to show its effects on consumers. Stephen Stanley, chief economist of Pierpont Securities said, ''I think it is fair to say that the deterioration in confidence since the summer is an accurate reflection of a souring of moods lately, driven by the government shutdown, the rollout of Obamacare, and the general continuing economic malaise.'' At 2:26 p.m. (ET), the APMEX Precious Metals spot prices were:
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francisd
Veteran |
26-Nov-2013 09:24
Yells: "BUY LOW SELL HIGH" |
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x 0
x 0 Alert Admin |
Gold recovering for now after it had fallen to a lower level yesterday. Cheers. |
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Octavia
Elite |
26-Nov-2013 09:17
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x 0
x 0 Alert Admin |
Gold fell to its lowest level in more than four months yesterday as the accord between Iran and world powers damped demand for a haven. Silver sank to its lowest in more than 15 wks. Brent crude slumped from a six-week high yesterday, and the USD reached the strongest in six months against the yen after Iran agreed to curtail its nuclear activities and in return won an easing of " certain sanctions" on oil, auto parts, gold and precious metals. | ||
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bsiong
Supreme |
26-Nov-2013 08:51
Yells: "The Greatest Wealth is Health" |
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x 0
x 0 Alert Admin |
Mid-Day Gold & Silver Market Report - 11/25/2013IRAN DEAL STILL AFFECTING MARKETS The Gold price has edged slightly downward in morning trading as the news of Iran limiting its nuclear program remains the focal point of investors. Naeem Aslam, chief market analyst at AvaTrade, explained that pressure on the Gold price comes ''as the premium of the geopolitical is at its lowest point in the Middle East after Iran has struck a deal with the major world powers. Investors have added to their short positions as the demand for the safe heaven faded.'' Richard Gotterer, managing director at Wescott Financial Advisory Group, explained that ''Gold as an oil hedge is down slightly too.'' For the stock market, the Iran agreement ''bodes well, and is a net positive for equities, and today?s action would support that,'' according to Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. Andrew Wilkinson, chief economic strategist at Miller Tabak, explained that Gold is not the only commodity finding a rough road ahead. He said, ''The initial Iranian agreement with the world to surrender its nuclear ambitions - at least the naughty part - is bolstering stocks and goosing the dollar. Commodity prices are finding a clearer path during a difficult year when traditional correlations fell by the wayside. But the path is down.'' At 1 p.m. (ET), the APMEX Precious Metals spot prices were:
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bsiong
Supreme |
26-Nov-2013 08:48
Yells: "The Greatest Wealth is Health" |
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x 0
x 0 Alert Admin |
Gold Outside Day Reversal after Lowest Low Since July 8Daily
Chart Prepared by Jamie Saettele, CMT -- Gold's sliced through the 6/28 close (1234) before reversing higher and forming an outside day reversal.
-- The next few days are critical as follow through (close higher than today) would increase evidence that a near term low is in place.
Trading Strategy: Flat
LEVELS: 1180 1208 1234 | 1251 1261 1269 |
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bsiong
Supreme |
26-Nov-2013 08:46
Yells: "The Greatest Wealth is Health" |
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x 0
x 0 Alert Admin |
Morning Gold & Silver Market Report - 11/25/2013IRAN NUCLEAR DEAL IMPACTS GOLD, STOCKS Gold has reversed initial losses this morning as the metal came under pressure following a deal to restrain the expansion of Iran's nuclear program. The temporary relief of geopolitical tension tends to have a positive impact on the dollar and equities, causing the price of Precious Metals to dip. As the Gold price eases to start the week, most investors remain focused on the Federal Reserve and the future of quantitative easing measures. ''The Iran deal, is just another short-term factor why you continue to see headwinds'' Bank of America Merrill Lynch analyst Michael Widmer said. ''The big issue is still the monetary tightening in the U.S. and that hasn't gone away.'' U.S. Stock futures are on the rise this morning as the nuclear deal helped lift markets. The Iranian nuclear agreement is seen as a short-term positive motivator for equities markets. Coupled with the Fed's ongoing stimulus measures, stocks continue to rally. ''Although the buying is not robust, there has been a lack of sellers,'' and that means " the path of least resistance is higher,'' Wayne Kaufman, chief market analyst at Rockwell Securities, said. ''The economy has been doing pretty well. So I think we're fine into next quarter, but the market is definitely becoming more selective.'' At 10:35 a.m. (ET), the APMEX Precious Metals spot prices were:
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