Thread: daily gold price trend analysis

International gold price rebounded slightly, once dropt to about 1164 then raised a little. in Europe trading time gold dropt from 1170 and started correcting in U.S. trading time.
U.S. September trade balance is not as good as expected which dragged USDX down. While September factory orders and durable goods orders keeps getting better and that stabilized USDX in a high level. Gold’s failure rebounding indicates that it’s still weak. Currently the situation of weak gold is not changed, MACD green bar is smooth, bearish is controlling the market, trading short during intraday trading would be better choice.

International gold price yesterday broke the support line and went downside, all the way down to about 1140 after broke 1160, bear market keeps gold weak. In today’s Asia trading time, gold basing around 1143.
U.S. October ADP employment is better than expected, boost USDX in a high level, yet the October ISM non-manufacturing PMI is not that good, which blocked USDX keeping going up. under this situation, gold started fluctuating, yet not strong enough to rebound. Currently gold daily chart price is still not stabilized after this slump. MACD is weak which made gold’s rebound unfavorable. Short would be a wise choice.

Gold for immediate delivery traded up as much as 0.6 percent on the $ 1,147.10 an ounce after trading 29 cents lower at low levels four years. The precious metal positions $ 1,144.78 at 2:20 pm in Singapore, according to Bloomberg data. Gold fell to $ 1,137.94, a low level since April 2010 on Wednesday.


While on the Comex, gold futures for December delivery traded fell 0.2 percent to $ 1.144 per ounce posis set it the most active price retreated to $ 1,137.10 yesterday, the lowest level since April 2010. Acquisition by nearly $ 1.9 billion yesterday due to the falling price of gold.


Last night, the US economic data fielded by the increase in the gold price up to 230.000 ADP despite decreased ISM Non Mnaufaktur. US NFP report released tomorrow night with the expectation that the United States will add 235,000 jobs in October. The unemployment rate was at the level of the six-year low at 5.9 percent. The report is expected to re-suppress the price of gold.

thanks for contributing.

Originally Posted by verbum4it

Gold for immediate delivery traded up as much as 0.6 percent on the $ 1,147.10 an ounce after trading 29 cents lower at low levels four years. The precious metal positions $ 1,144.78 at 2:20 pm in Singapore, according to Bloomberg data. Gold fell to $ 1,137.94, a low level since April 2010 on Wednesday.


While on the Comex, gold futures for December delivery traded fell 0.2 percent to $ 1.144 per ounce posis set it the most active price retreated to $ 1,137.10 yesterday, the lowest level since April 2010. Acquisition by nearly $ 1.9 billion yesterday due to the falling price of gold.


Last night, the US economic data fielded by the increase in the gold price up to 230.000 ADP despite decreased ISM Non Mnaufaktur. US NFP report released tomorrow night with the expectation that the United States will add 235,000 jobs in October. The unemployment rate was at the level of the six-year low at 5.9 percent. The report is expected to re-suppress the price of gold.

thanks for contributing.

International gold price dropt from 1149 last trading day, rebounded from 1138 later, but blocked by 1148 and went downside again. At the end of U.S. trading time gold corrected around 1143, in today’s Asia trading time gold keeps weak, basing around 1141.

ECB interest rate decision keeps unchanged. Yet Draghi’s speech pressed Euro. Initial jobless claim appears good made USDX create a new high, gold on the other hand, dropt. The incoming US Non-farm Payrolls will effect gold significantly, currently market is still bear, daily chart is not stabilized yet, whether downside 1130 support can be tested is not clear, short positions seems to be the right choice.

International gold price surged from the bottom last trading day. After stabilized at about 1130, gold surged to above 1170 due to the non-farm payroll. In today’s Asia trading time, gold keeps strong, and currently closed about 1175.
October non-farm payroll is 214 thousand, which is not as good as expected, this amount indicates that job market is slowing down is pace of improvement. USDX dropt from a high point, gold, on the other hand, gained a big surge. Currently gold daily chart gold price after days of oversell is ready to raise. MACD green bar is shorten and that favors gold’s rebound, trading long would be a good choice.

International gold price dropt from a high point last trading day. After lost 1170, price went down to about 1150, market bearish mood pressured gold fell back to below 1160. In today’s Asia trading time, gold rebounded slightly, currently closed at about 1155.

U.S. October job market conditions index is better than expected, previous value is revised to 2.5 to 4, which indicates that job market is stabilized and improving, boost USDX rebounded massively, gold on the other hand under pressure and went downside. Currently gold daily chart price has dropt to about 1150 and testing that support. trading short during intraday trading seems to be a good choice.

Gold rose on speculation that prices near four-year lows encourage physical buying as investment demand is reduced. Silver, platinum and palladium rose.


Delivery gold rose as much as 0.5 percent to $ 1,157.30 an ounce and was at $ 1,156.91 at 9:20 in Singapore, according to Bloomberg generic prices. Metal fell to $ 1,147.46 yesterday, and fell to $ 1,132.16 on 7 November, the lowest level since April 2010.


Spot gold in Shanghai yesterday traded at the biggest premium to the price of London in five weeks, Bloomberg calculations menunjukkan.Holdings in the SPDR Gold Trust, the biggest exchange-traded products backed by the metal, shrank for a fifth day to the least since September 2008, the longest slump this year.


Gold for December delivery fell 0.3 percent to $ 1,155.90 an ounce on the Comex in New York after the most active price sank to $ 1,130.40 on 7 November, the lowest level since April 2010. Futures are 3.9 percent lower this year sebagaiamana Bloomberg Dollar Index spot rose to a five-year on hopes that the US economic recovery will spur higher borrowing costs

Originally Posted by verbum4it

Gold for immediate delivery traded up as much as 0.6 percent on the $ 1,147.10 an ounce after trading 29 cents lower at low levels four years. The precious metal positions $ 1,144.78 at 2:20 pm in Singapore, according to Bloomberg data. Gold fell to $ 1,137.94, a low level since April 2010 on Wednesday.


While on the Comex, gold futures for December delivery traded fell 0.2 percent to $ 1.144 per ounce posis set it the most active price retreated to $ 1,137.10 yesterday, the lowest level since April 2010. Acquisition by nearly $ 1.9 billion yesterday due to the falling price of gold.


Last night, the US economic data fielded by the increase in the gold price up to 230.000 ADP despite decreased ISM Non Mnaufaktur. US NFP report released tomorrow night with the expectation that the United States will add 235,000 jobs in October. The unemployment rate was at the level of the six-year low at 5.9 percent. The report is expected to re-suppress the price of gold.

thanks for contributing.