Gold

[ashaab]

The short term trend of the Gold is to the upside. Intraday trading range of the Gold is expected among key support at 1695.00 and key resistance at 1750.00. Based upon my chart analysis, I prefer to buying the Gold around 1715.00 with targets 1735.00, 1755.00 then 1780.00 and stoploss with four hour candle closing below 1700.00.

[raihan8212]

Gold futures traded higher in U.S. afternoon hours Monday, as Spanish bailout speculation lent support to the single currency.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,728.95 a troy ounce during U.S. afternoon trade, climbing 0.30%.

Gold prices were likely to find support at USD1,688.85 a troy ounce, the low from September 7 and resistance at USD1,754.95, the high from October 17.

The euro found support after Spanish regional election results indicated support for the austerity policies of Prime Minister Mariano Rajoy.

The center-right Popular Party of Prime Minister Rajoy increased its majority in his home region of Galicia on Sunday, removing a possible obstacle to formally requesting a bailout from Spain�s euro zone partners.

A bailout request by Spain would activate the European Central Bank�s bond purchasing scheme, aimed at lowering high peripheral bond yields in the euro zone.

Prime Minister Rajoy said Friday he still had not decided whether to request a sovereign bailout.

The dollar index, which tracks the performance of the greenback against a basket of six other major currencies, was down 0.15% to trade at 79.59.

A stronger U.S. dollar usually weighs on gold, as it dampens the metal's appeal as an alternative asset and makes dollar-priced commodities more expensive for holders of other currencies.

Prices were lower earlier in the session, as some technical selling weighed after prices broke below key support levels close to their 50-day moving average, painting bearish chart patterns.

The precious metal could see further losses in the near-term after having failed to break above the key USD1,800-level earlier in the month.

Gold futures rallied to an 11-month high of USD1,798.05 a troy ounce on October 5, boosted by ongoing expectations policymakers around the world will launch more stimulus to support the weak global economy.

Markets may stay subdued ahead of the release later in the week of U.S. data including monthly new home sales, durable goods orders and third-quarter GDP figures.

Investors are also turning their attention to the Federal Reserve's policy meeting on Tuesday and Wednesday after the central bank announced its third round of quantitative easing last month.

Moves in the gold price this year have largely tracked shifting expectations as to whether the U.S. central bank would pump more money into the financial system.

Elsewhere on the Comex, silver for December delivery added 1.04% to trade at USD32.43 a troy ounce, while copper for December delivery shed 0.5% to trade at USD3.619 a pound.

---------- Post added at 11:01 AM ---------- Previous post was at 10:52 AM ----------

Gold prices rose on Tuesday after regional election results in Spain rekindled hopes Madrid will request a bailout, which sent the euro rising and the dollar falling, a recipe for rising gold prices.

Gold and the dollar normally trade inversely from one another.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were up 0.15% at USD1,728.95 a troy ounce, up from a session low of USD1,727.95 and down from a high of USD1,730.35 a troy ounce.

Gold futures were likely to test support at USD1,718.65 a troy ounce, Monday's low, and resistance at USD1,744.25, Friday's high.

Spanish Prime Minister Mariano Rajoy's center-right Popular Party increased its majority presence in the prime minister's home region of Galicia, which investors saw as a sign of support for economic policies needed to request a bailout.

Last week, Spanish Prime Minister Mariano Rajoy said his government felt it was under no pressure to seek a bailout, which pushed the euro down and fueled a wait-and-see mode among many investors.

With voters apparently supportive of Rajoy's austerity policies, investors went long on the single currency on sentiments the government may be ready to make asking for a financial lifeline official.

Requesting financial assistance would allow Spain to tap the European Central Bank's bond-buying program, which would lower yields in Spanish government debt auctions and ease credit conditions in the country.

The rally sparked broader demand for risk that sent the dollar falling and gold rising.

News that physical demand may be on the rise in India fueled demand for the precious metal as well.

The Federal Reserve is due to announce its latest statement on U.S. monetary policy later this week, which sparked some gold selling and demand for the greenback though the overall sentiment for the precious metal remained bullish.

Elsewhere on the Comex, silver for December delivery was up 0.41% and trading at USD32.385 a troy ounce, while copper for December delivery was up 0.18% and trading at USD3.628 a pound.

[samsiah]

Gold in this time test middle resistance of middle meter bearish channel in 1.729. Seems possible that it start de****ation. But, breakthrough of level the will free tired and big potency of boundary of channel in 1.740.

[romannil]

Gold technical analysis for 23.10.2012 by using : Auto pivot indicator.

resistance 3:1748.57
resistance 2:1738.53
resistance 1:1733.07

pivot point :1723.03

support 1:1717.57
support 2:1707.53
support 3:1702.07

[Bieela_cute]

This is a level that could produce a low although 1715 (9/13 low) is probably stronger. The drop has shifted reward/risk to bulls against the 9/7 low at 1689.” Gold slipped just below 1715 today before rallying over $10. At least a short term low appears to be in place and focus is higher towards 1753.

LEVELS: 1691 1700 1713 1754 1770 1780

[raihan8212]

Gold futures edged up from the lowest level in six weeks during U.S. morning hours on Monday, as hopes that Spain is moving closer to requesting a bailout supported the euro.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,726.65 a troy ounce during U.S. morning trade, easing up 0.15%.

Prices held in tight trading range of USD1,728.75 a troy ounce, the daily high and a session low of USD1,718.65 a troy ounce, the cheapest level since September 7.

Gold prices were likely to find support at USD1,688.85 a troy ounce, the low from September 7 and resistance at USD1,754.95, the high from October 17.

The euro found support after Spanish regional election results indicated support for the austerity policies of Prime Minister Mariano Rajoy.

The center-right Popular Party of Prime Minister Rajoy increased its majority in his home region of Galicia on Sunday, removing a possible obstacle to formally requesting a bailout from Spain�s euro zone partners.

A bailout request by Spain would activate the European Central Bank�s bond purchasing scheme, aimed at lowering high peripheral bond yields in the euro zone.

Prime Minister Rajoy said Friday he still had not decided whether to request a sovereign bailout.

The dollar index, which tracks the performance of the greenback against a basket of six other major currencies, was down 0.15% to trade at 79.59.

A stronger U.S. dollar usually weighs on gold, as it dampens the metal's appeal as an alternative asset and makes dollar-priced commodities more expensive for holders of other currencies.

Prices were lower earlier in the session, as some technical selling weighed after prices broke below key support levels close to their 50-day moving average, painting bearish chart patterns.

The precious metal could see further losses in the near-term after having failed to break above the key USD1,800-level earlier in the month.

Gold futures rallied to an 11-month high of USD1,798.05 a troy ounce on October 5, boosted by ongoing expectations policymakers around the world will launch more stimulus to support the weak global economy.

Markets may stay subdued ahead of the release later in the week of U.S. data including monthly new home sales, durable goods orders and third-quarter GDP figures.

Investors are also turning their attention to the Federal Reserve's policy meeting on Tuesday and Wednesday after the central bank announced its third round of quantitative easing last month.

Moves in the gold price this year have largely tracked shifting expectations as to whether the U.S. central bank would pump more money into the financial system.

Elsewhere on the Comex, silver for December delivery added 0.65% to trade at USD32.30 a troy ounce, while copper for December delivery shed 0.5% to trade at USD3.619 a pound.

[Robi]

Of gold can be seen formed a bearish channel, today there was a retreat from its lower boundary and the price went to the northern correction, but the underlying trend continues to the south, you need to wait for the correction (from the top of the channel or the resistance of 1733.80) to sales.

[winstead]

Gold has now reached the level of price support D1 in 1714. If gold was not able to break up then gold will go back down to the level of 1716 prices again. But if gold were able breakup 1731 then gold will go before the 1741 price level back down i think.

[VANDA_S]

At the H4 chart, the price is dibawah12 EMA and 72 EMA indicates the trend is still down
21 RSI is below 50 indicates the trend is still down
Recommendation: SELL
Take profit: 1680

[andi1681]

Yes on in resent time Forex treading system is valuable tan gold because we all know that it is a money a mking treading system and a lots of people are working here.