Gold

This is this is the perfect comodity to trade when it comes to forex money exchange but when there is a perfect trend then you should flow with the mood of the trend and make some money with it.

---------- Post added at 05:51 PM ---------- Previous post was at 05:48 PM ----------

Everything in life is always about risking even breathing itself is risking and thats why i can say its not alys about risking but sometimes its about making money thats what life all about.

USD/CHF is to consolidating in lower range as markets await U.S. non-farm payrolls report. USD/CHF is undermined by broadly weaker demand for safe-haven USD as risk appetite improves. But USD/CHF losses are tempered by positions adjustment before weekend.
Preference:
SHORT positions below 0.935 with 0.928 and 0.925 in...

The trading range for today is among the key support at 1695.00 and key resistance now at 1750.00
The short term trend to the upside targeting 1945.00 per ounce consistently trading above the 1520.00 close of the week.

Gold is currently testing historical support at 1700 level and so it become a very good buy here as we can have a stop loss somewhere little below 1700 level and expect 1718/1722 in very short term, once 1733 get crossed it may head towards 1750.

Gold futures fell to a fresh six-week low during U.S. morning hours on Tuesday, as a combination of a broadly stronger U.S. dollar and some technical selling weighed on the precious metal.

Investors are also awaiting the outcome of the Federal Reserve's two-day policy meeting on Wednesday.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,706.45 a troy ounce during U.S. morning trade, tumbling 1.15%.

Prices fell by as much as 1.5% earlier in the session to trade at a daily low of USD1,705.55 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.

Gold’s losses accelerated after prices broke below key support levels close to the USD1,715-level shortly after the U.S. session began, triggering fresh sell orders amid bearish chart signals.

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.

Market sentiment was hit as a down****e of Catalonia and four other Spanish regions by ratings agency Moody’s added to uncertainty over when Madrid may formally request a bailout.

Market players have been anticipating for the past month that the Spanish government would ask for a full-scale sovereign bailout.

A bailout would allow the European Central Bank to step in and buy Spanish sovereign debt, which would result in reduced borrowing costs for the debt-strapped nation. But Spain has been reluctant to do so because it may come with conditions on its budget.

The risk-off trade environment saw the U.S. dollar hit a one-week high against the euro, while the dollar index, which tracks the performance of the greenback against a basket of six other major currencies, gained 0.5% to trade at 80.06, the highest since October 11.

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.

Meanwhile, gold traders are turning their attention to the Fed’s policy meeting on Tuesday and Wednesday after the central bank announced its third round of quantitative easing last month.

The Fed vowed in mid-September to buy an average of USD40 billion of mortgage-backed securities a month until the economy shows significant improvement.

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 fell 1.4% to trade at USD31.80 a troy ounce, while copper for December delivery sank 1.9% to trade at USD3.553 a pound.

i think gold is very risky and also it can give a lot a profit if luck is on our side and if we made good strategy for that ... so when i will have enough capital then i will go to buy gold and increase my capital level and also my profit level

موجودہ رجحان گرنے کا رجحان 1530 کے اہداف اور نقصان 1542 1526 روکنے اگر قیمت سب سے زیادہ نقطہ بریکر 1542 گئے رجحان 1545 ھدف بندی کے اوپر الٹ دیا اور پھر 1550

we all know that gold is most volatile in forex market. we also see that gold is going to keep upper level so i think Gold if break 1713-15 region we can see 1705-1698-1688-1678-1656 if not than buy from that region for 1717-1725-1732-1742-1752. personal predict only.

Elliott: elongated flat correction down 1693.96
Market should not go lower than 1705.95 - 1697.85. After this move down it should go up to 1719.03 - 1724.02 area.
Warning: End of trend - Engulfing pattern
Technical points
Key point 1,704.8800
Entry point 1,716.0300
Elliott 1,753.6300
Closing 1,707.8200
Projection 1,689.2600
Trendline 1,719.3800
Trendline 1,719.3800
Supports / Resistances
Res 2 1,740.2100
Ex-High 1,730.2300
Res 1 1,724.0200
Pivot 1,714.0400
Sup 1 1,697.8500
Ex-Low 1,704.0600
Sup 2 1,687.8800

Buy signal generated on GOLD daily chart.
Buy near 1725