Gold

[hamza661]

Gold markets did very little during the session on Friday as we continue to tread water around the $1700 level. Just below, we see quite a bit of significant support all the way down to the $1680 level, and as such we would be looking for some type of supportive candle like a hammer or a green one to start buying this market presently.

A long-term trend is far too bullish for us to start selling, and as you know by now we hold physical and ETF forms of gold also. Because of this, we are never actually �short� the market, and will only buy these futures contracts on signs of support or strength. We presently believe that we are in an area that could very well provide a supportive candle, and are simply waiting to see that in order to start buying.

[Pioner3]

//////Continue to hold the purchase of gold, the price went up to two strong oblique support levels around them is consolidation, as MASD formed divergence followed by a buy signal, the goal I have is still near the top of the inclined boundary./////

[hamza661]

GOLD (Spot) intraday: the downside prevails.
Our preference: SHORT positions below 1700 with 1684 & 1678 as next targets.

Alternative scenario: The upside penetration of 1700 will call for 1712 & 1722.
Key levels Comment

1722** Intraday resistance
1712** Intraday resistance
1700*** Intraday pivot point
1699.87 Last
1684** Intraday support
1678** Intraday support
1672*** Horizontal support

[ahmed fakhry]

Gold prices rose slightly recovered from recent losses on the prospects of monetary stimulus in Japan.
The February spot gold prices rose by 0.12 % to $1,699.6 per ounce on the COMEX today.

[forexking2]

For XAUUSD . this look on still sideways with quite high volatile price movement. No nice idea to take a new OP with price with condition . high volatile like this . just wait and see .it's more better choice, I see.

[mose]

If you are a trader i can advice you to trade gold but at the same time i can advise you to be realy carefull since gold is very expensive in nature and i know that it could wipe aut your account.

[ALLIANZ]

Bias is still bearish for nearest term, as long as price stays below 1700 resistance area. A strong break above this area should trigger bullish momentum targeting 1710 or even 1718 area.
Immediate support is found at 1690 and 1683 region,only a break below this area which should continue the bearish outlook.

[hamza661]

As depicted here, intermediary support is provided by 1,680.00, followed by 1,672.00 level respectively, while strong support region is 1,630/40. Furthermore, 1,672.00 region is re-enforced by the 0.5 Fibonacci support for the upswing from 1,550.00 to 1,790.00 level. Intermediary resistance is at 1,720.00 level, followed by 1,755.00. It is recommended to stay long keeping the overall uptrend into consideration. A push through 1,720.00 and subsequently 1,755.00 level is expected into coming sessions. Looking higher from here on.

[winstead]

The movement of gold still can not get out of the pressure and still be slightly above the range of support 1684-1689. With some indications, gold is still possible to test the support level at 1684. Movement in the area of ​​support also provides an opportunity for potential rebound movement area approaching 1700.

[hamza661]

Gold markets did very little during the session on Friday as we continue to tread water around the $1700 level. Just below, we see quite a bit of significant support all the way down to the $1680 level, and as such we would be looking for some type of supportive candle like a hammer or a green one to start buying this market presently.

A long-term trend is far too bullish for us to start selling, and as you know by now we hold physical and ETF forms of gold also. Because of this, we are never actually �short� the market, and will only buy these futures contracts on signs of support or strength. We presently believe that we are in an area that could very well provide a supportive candle, and are simply waiting to see that in order to start buying.

---------- Post added at 08:43 PM ---------- Previous post was at 08:41 PM ----------

Gold was directionless and flat today, trading at 1697.35 moving between very small losses and gains. The gold was little changed at USD 1,696.96 an ounce. It rose and fell 0.2 per cent today and is down 0.4 per cent this week. Silver rose 0.2 per cent to USD 32.58 an ounce. Gold is set for a third weekly drop even after the Federal Reserve said it will start buying USD 45 billion a month of treasuries, adding to USD 40 billion a month of existing mortgage-debt purchases. US President Barack Obama and House Speaker John Boehner met to discuss averting more than USD 600 billion of spending cuts and tax increases before a year-end deadline, with no public announcement of progress. Holdings in gold-backed exchange-traded products rose 3.9 metric tons to record 2,630 tons. Prices are set for a 12th consecutive annual gain as central banks from the US to China pledge more steps to spur economic growth. The US Fiscal Cliff still looms large as democrats and republican bicker over tax increases and budget cuts.