Gold

[winstead]

Gold formed a small bullish on 4 hour chart, it takes constant movement in the area of ​​1720 to trigger further bullish momentum towards the 1735 area.

[Robi]

Gold appears again resumes south trend, the price has managed to break through the lower boundary of the rising channel and consolidated below it (go short), but so far for my main sales need to wait a minimum breakthrough 1700.00.

[ishvara]

Gold has plunged down from 1780 region to 1700, this is just a retracement. The bias for gold price and movements is bullish so this is a good buy point where we can open a buy order and then target 1800 all time high.

[raihan8212]

Gold futures were lower in Asian trade on Friday.

On the Comex division of the New York Mercantile Exchange, Gold futures for December delivery traded at USD1708.75 a troy ounce at time of writing falling 0.39%.

It earlier traded at a session low USD1708.55 a troy ounce. Gold was likely to find support at USD1705.45 and resistance at USD1727.25.

US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, rose 0.10% to trade at USD80.20.

Elsewhere on the Comex, Silver for December delivery fell 0.46% to trade at USD32.100 a troy ounce while Copper for December delivery fell 0.48% to trade at USD3.537 a pound.

[nurdiantofxwave]

Gold go down again, although yesterday, it could up strong until 1726.20. Price down started from american market session yesterday. Until now, price stil continue down and it's position had under daily support 1 level (1710.33).

[erespe]

Back in the sideways zone after failed to break 1723.43 level. It is possible that gold will be drop to the 1704.30 as now it runs on a downtrend. But remember this movement is in a sideways zone, means that it is possible to go up after down. Still no clear trend for gold.

[Bieela_cute]

Elliott: flat correction down 1705.01
There are initial signs of a good corrective recovery towards 1721.12 or even 1723.55. Supports at 1714.47 and 1710.26 zone.
Technical points
Key point 1,709.8000
Entry point 1,718.4500
Elliott 1,727.1100
Closing 1,715.1300
Projection 1,705.0100
Trendline 1,715.1600
Trendline 1,718.2200
Supports / Resistances
Res 2 1,731.9800
Ex-High 1,727.1100
Res 1 1,723.5500
Pivot 1,718.6900
Sup 1 1,710.2600
Ex-Low 1,713.8200
Sup 2 1,705.3900

[hodhod2000]

The trading range for today is expected among the key support at 1700.00 and key resistance now at 1750.00.

The short term trend is to the upside targeting 1945.00 per ounce as far as areas of 1520.00 remain intact with a weekly closing.

[raihan8212]

Gold futures turned lower during U.S. morning trade on Thursday, erasing earlier gains following the release of better-than-expected U.S. employment and manufacturing data.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,718.75 a troy ounce during European morning trade, easing down 0.02% on the day.

Prices rose by as much as 0.5% earlier in the day to trade at a session high of USD1,727.25 a troy ounce, the strongest level since October 23.

Gold prices were likely to find support at USD1,688.85 a troy ounce, the low from September 7 and resistance at USD1,730.35, the high from October 23.

The Department of Labor said earlier that the number of individuals filing for initial jobless benefits fell to 363,000 last week from 372,000 the previous week, compared to expectations for a decline to 370,000.

The previous week�s figure was revised up to 372,000 from a previously reported 369,000.

The data came on the heels of a report showing that U.S. private sector employment increased more-than-expected in October.

Payroll processing firm ADP said the U.S. private sector added 158,000 jobs this month, surpassing expectations for an increase of 135,000.

Also Thursday, the Institute for Supply Management said its index of purchasing managers rose to a five-month high of 51.7 in October from a reading of 51.5 in September.

A separate report showed that U.S. consumer confidence rose to the highest level since February 2008 in October.

Market players now turned their attention to Friday�s government report on U.S. nonfarm payrolls to further gauge the strength of the U.S. labor market.

Any improvement in the U.S. economy could scale back expectations for further easing from the Federal Reserve, boosting the dollar and potentially weighing on the precious metal.

Political developments were likely to take center stage next week, with the U.S. presidential election on November 6 and the start of the Chinese Communist Party Congress on November 8, where a once-in-a-decade leadership change was to take place.

Euro zone developments also remained in focus. Investors were cautious amid uncertainty over when Spain may request a bailout and whether Greece will secure the next tranche of its bailout funding.

Elsewhere on the Comex, silver for December delivery rose 0.25% to trade at USD32.40 a troy ounce, while copper for December delivery rallied 1.1% to trade at USD3.555 a pound.

Copper prices were boosted after China�s state-affiliated Federation of Logistics and Purchasing said that its purchasing managers� index rose to a three-month high of 50.2 in October from September's 49.8. A reading above 50.0 signifies expansion.

A separate report from HSBC showed that manufacturing activity in the Asian nation improved to an eight-month high of 49.5 from September's 47.9, though it still indicated activity contracting for the 12th consecutive month.

The Asian nation is the world�s largest copper consumer, accounting for almost 40% of world consumption last year.

[winstead]

Gold is still going to move to the level of 1730 before experiencing a weakening prices. If gold is able to break 1730 the price of gold will go to the level of 1743 i think.