Gold

Gold
techncal analysis gold
this is a sensitive price rate.
the price gold buying point is 1201.47 and the selling point 1200.92

In asian market today ma 16 had crossed up ma 96 .It can indicate that the price will go up, below trend analysis today with ma system:
ma 16 as short term trend indicator= up
ma 96 as medium term trend indicator= sideways
ma 480 as long term trend indicator = down
So the trend is up weak short term

I predict the price will go up again until weekly support 2 area 1601.57

Technical analysis for GOLD

gold analysis for 14.11.2018

( GOLD ) price sell (minimum) is 1201.65

or buy (maximum) 1200.92

Gold steady as dollar slips form multi-month high

• Holdings of the world's largest gold-backed exchange-traded fund. SPDR Gold trust, fell 0.11 percent to 761.16 tonnes.
• Spot gold may bounce to $1.211 per ounce. as it has found a support around $1.195 , said Reuters technical analyst Wang Tao.

Reuters.
Gold prices held steady on Wednesday as the U.S. dollar retraced from a 16-month high touched earlier in the week, easing amid a surge in the euro and sterling on a draft Brexit agreement.

Spot gold was little changed at $1,202.08 per ounce at 0754 GMT.


Price had slipped to their lowest level since Oct. 11 at $1,195.90 in the previous session.

Resistance lever and Support lever
current price Gold ; 1200.03


Resistance lever 1 : 1203.21
Resistance lever 2 : 1205.65
Resistance lever 3 : 1207.65

Support lever 1 : 1198.65
Support lever 2 : 1197.54
Support lever 3 : 1195.87

The US President Donald Trump’s head economic adviser told that the United States welcomed the resumption of discussions with China on trade, while Vice President Mike Pence urged Beijing to adjust its behavior so as to evade a new cold war with the United States. This ultimately drives the safe-haven demand in the market.

gold is trading in a tight range of $1,199 – $1,205 which may get violated on the release of US inflation figures. The bullish breakout is likely to lead gold prices towards $1,211 and $1,216. Whereas, the market can stay bearish below $1,205 until $1,199 and $1,193.

Support Resistance
1197.33 1206.14
1192.43 1210.05
1183.62 1218.86
Key Trading Level: 1201.24

as
U.S. gold futures were up 0.1 percent at $1,203.9 per ounce.


There has been some stalling in the U.S dollar, the rise has eased helping gold to pick up, said john Sharma, as economist with National Australian Bank (NAB)

(Kitco News) - King Dollar will rule over gold prices in the near-term. but the yellow metal will continue to be an important diversifies and safe-haven asset for investors in the long-term, according to one fund manager.