Tag Archives: Gold
GOLD ANALYSIS
Precious metals are trading lower early in the Asian session, with gold moving in and out of positive territory. The GOLD fell 2.3% in the spot market overnight on renewed investor demand for cash that pushed prices lower. Spot silver sank 5.5% overnight.
GOLD ANALYSIS
Spot gold is lower in a relatively narrow range Wednesday as investors act cautiously in holiday-thinned trade, although concerns remain that a further sharp correction may be on the cards for the struggling precious metal.
GOLD ANALYSIS
Spot gold prices edged lower yesterday after the long Christmas break with the market opening yesterday morning at $1602.50 in Asia and after a brief high of $1608.20 slipped back to $1589.75 before closing the day around $1593.
GOLD ANAYLYSIS
Precious metals are trading mixed early in the Asian session, with gold a touch lower. Volumes are likely to remain light as many trading desks in the different parts of the world remain thinly staffed ahead of the year-end.
Market Review
USD – The greenback is little changed despite the upbeat December Conference Board Consumer Confidence data (64.5 in Dec vs MNI median at 59.0). Market continues to eye US stocks. More sizable stock gains would be deemed risk friendly, which is likely to underpin the euro and other currencies, rather than the USD.
Risk of a bounce increases as bullish bets are cut again
Hedge funds and large investors have cut their long exposure in US commodities to the lowest level since March 2009. This was the time when the markets were slowly beginning to recover following the Lehman crisis. As of last Tuesday futures and options positions were cut by 12 percent to 656,000 contracts, a nominal reduction […]
MARKET ANALYSIS
EUR/USD: As long as 1.3199 (reaction high from 1.2945) holds, downtrend from 1.4940 may resume later this week and a daily breach of 1.3000 would re-test of 2011 low at 1.2860. But as daily indicators would display ‘bullish convergences’ on next decline, support at 1.2774 would contain weakness.
GOLD ANALYSIS
Spot Gold prices headed lower on Thursday partly on some squaring up ahead of the Christmas holidays and lack of further bad news in the Eurozone. Stronger US jobless data added some pressure despite firmer crude oil prices hitting the $100 level .
GOLD ANALYSIS
Spot gold prices closed virtually unchanged yesterday with an early spike up to $1641.90 in the european session gradually unwound in NY as early euphoria over the ECB’s LTRO tender was followed by some pessimism. Italy and Spanish yields rose and some hefty macro EUR/USD sellers led to a return of risk aversion which in […]
GOLD ANALYSIS
Spot gold moved steadily higher on Tuesday as traders covered shorts and crude oil prices rocketed higher on the back of strong equity gains. Bargain hunters were also conspicuous after the heavy falls last week amid talk of increased physical demand for the metal over the Xmas period.
GOLD ANALYSIS
Spot gold had a relatively quiet session on Monday with the metal in consolidation mode after the heavy falls of last week. Volumes dropped back sharply with price movements subdued, despite an early fall in Asia following the death of North Korea’s leader Kim Jong Il.
GOLD ANALYSIS
GOLD confirmed last night a negative closing below however plunging again to 1625 this morning. Still possible a further extension of the decline toward the 200 days line at 1617,50; a daily closing below this line will open the way for a drop toward the 1525/ 1500 area!!