Gold

[ALLIANZ]

Finally, the price of gold (XAUUSD) started showing a passion to continue to climb in today. When this analysis revealed the price of gold has been tested and is located near the target of the first correction level 23.6% Fibonacci retracement of recent downtrend that was in 1721.20. Target next correction is 1735.55.
If these levels hold, then going back XAUUSD decline (intraday correction) with the closest targets in the area in 1717 and 1714.

[hictor23]

XAU/USD
BUY
Enter :- 1711.08000
TP1 :- 1710.25516
TP2 :- 1711.43032
SL :- 1710.72972

Note this is just my attempt to predict the price could be right or wrong stop-loss order is very important must put always follow the trend

[raihan8212]

Gold prices traded steady to higher on Wednesday after the yellow metal's traditional hedge, the dollar, weakened as investors emerged from the safety of the greenback in wake of massive storm Sandy.

U.S. markets were closed on Tuesday after Sandy, a post-tropical storm, lashed the U.S. northeast with heavy winds, driving rains and deadly storm surge, which sent investors seeking safe-harbor in the liquid greenback prior.

Trading, however, was choppy, as some investors still clung to the dollar ahead of Friday's October jobs report in the U.S.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were up 0.03% at USD1,712.65 a troy ounce, up from a session low of USD1,711.35 and down from a high of USD1,712.75 a troy ounce.

Gold futures were likely to test support at USD1,701.45 a troy ounce, Friday's low, and resistance at USD1,719.35, Fridays' high.

Investors crept out of the safety of the dollar after Sandy had weakened, as despite the widespread damage, businesses and communities will eventually brush off the debris and return to work.

Gold also saw gains as appetite for risk grew in Europe, when Spanish gross domestic product figures came in not as bad as previously feared.

The Spanish economy contracted by 0.3% in the third quarter, slightly better than expectations for 0.4% contraction, and while the country still remains mired in recession, the number sent investors ditching the dollar and buying euro, a recipe for rising gold prices.

Gold and the dollar trade inversely.

On Friday, the Bureau of Labor Statistics will release its October jobs report, and dollar demand remained solid ahead of time.

Elsewhere on the Comex, silver for December delivery was up 0.35% and trading at USD31.928 a troy ounce, while copper for December delivery was up 0.11% and trading at USD3.513 a pound.

---------- Post added at 04:37 PM ---------- Previous post was at 01:36 PM ----------

Gold futures edged higher during European morning trade on Wednesday, as U.S. markets prepared to reopen after Hurricane Sandy while investors waited for key Chinese manufacturing and U.S. employment data later in the week.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,717.95 a troy ounce during European morning trade, up 0.35% on the day.

Prices held in a tight trading range of USD1,718.45 a troy ounce, the daily high and a session low of USD1,711.25 a troy ounce. Gold futures fell to a seven-week low of USD1,699.65 a troy ounce on October 24.

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.

U.S. markets were set to reopen Wednesday, after remaining closed the previous two days, as Hurricane Sandy caused major damage in the U.S. northeast.

Gold traders were looking ahead to a series of important political and economic events set to unfold in early November.

On Thursday, China will release a report on manufacturing data for October, followed by closely-watched U.S. non-farm payrolls data on Friday.

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 remained in focus. Euro zone finance ministers were to hold a conference call later in the day to discuss Greece�s progress on meeting austerity targets, but no decision on when the country will receive the next tranche of its bailout was expected.

Meanwhile, investors continued to await any sign that Spain is preparing to request a bailout, which would activate a bond purchasing program by the European Central Bank, aimed at lowering the borrowing costs of distressed euro zone states.

The debt-strapped country has been reluctant to ask for aid from its euro zone partners because of concerns it may come with conditions on its budget.

Elsewhere on the Comex, silver for December delivery rose 0.9% to trade at USD32.10 a troy ounce, while copper for December delivery rallied 1.25% to trade at USD3.550 a pound.

[secret alibi]

There is no change in our technical outlook,
bias is neutral for nearest term, but we still
prefer bearish outlook as long as the price
move below the trendline resistance on 4H
chart. Potential trading range is around 1700 –
1720 area. Break above 1720 area is needed
to end the medium term bearish outlook.
While break below 1700 area should bring
gold lower testing 1693 area.

Resistance Level : 1720, 1735, 1748
Support Level : 1700, 1693, 1680
Trading Range : 1700 – 1720
Trend : Neutral

[nurdiantofxwave]

Gold back to up strong and can touch weekly pivot level (1712.67) yesterday. But, gold can not maintain its position and its retrace down back to level 1708.57. Now, gold trying to move up again. I think gold still chance to go up following bullish medium term trend.

[andhikayasa]

according to you, the gold is already at its lowest?
is there a possibility of gold will soar high to see the condition of American who were in strife-torn by the storm shandy?
give your opinions

[yudijoni]

Mixed movement of gold prices has formed Elliot Minor wave (ranging). We also see a symmetrical triangle pattern will become a reference for market participants to buy and sell transactions. After the break the triangle above (resistance) then positions do, and vice versa when prices pass through the lower triangle (support) the position of selling to do with their targets on the edge of the Equidistant channel.

Economic data today's world can not affect the gold price significantly. Bond auctions and the level of unemployment will be "a little" trigger sentiment of market participants. The opening session of the European markets and the United States will lead the world gold price movement and its change trend direction itself.

Trend: Bullish

Condition: Potentially weak but confirmed

Verdict: 1728.60

Trading Plan:

1. Buy Stop@1715.70 TP 1720.00 (Hold n Trailing Stop)

2. Buy Limit <1709.70 SL U.S. $ 3 (with your filter) TP U.S. $ 5 (after touch pivot level and UP)

3. Sell ​​Stop <1708.60 TP U.S. $ 3 U.S. $ 3

Happy Trading.

[ashaab]

The short term trend of the Gold is to the upside. Intraday trading range of the Gold is expected among key support at 1675.00 and key resistance at 1745.00. Based upon my chart analysis, I prefer to stay aside from the Gold until we get a confirm setup for the upcoming big move.

[kaushal4]

Gold can benefit from such an environment of easy money because of expectations that ample liquidity would put a damper on the value of paper currencies. The economic docket in Asia and Europe is rather light. But in north American trading Friday the USD GDP report and the university of Michigan report are due.

[romannil]

Gold technical analysis for 31.10.2012 by using : Auto pivot indicator.

resistance 3:1724.20
resistance 2:1719.30
resistance 1:1714.10

pivot point :1709.20

support 1:1704.00
support 2:1699.10
support 3:1693.90