Gold

[secret alibi]

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

[romannil]

Gold technical analysis for 30.10.2012 by using : Auto pivot indicator.

resistance 3:1726.00
resistance 2:1721.20
resistance 1:1714.80

pivot point :1710.00

support 1:1703.60
support 2:1698.80
support 3:1692.40

[raihan8212]

Gold prices rose on Tuesday, shaking off earlier losses stemming from global economic uncertainty, especially out of Europe, where Spain has yet to make it clear if it will seek a bailout.

U.S. markets were closed on Monday ahead of Hurricane Sandy, which roared ashore as a powerful post-tropical system whipping up wind, driving rains and a deadly storm surge.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were up 0.15% at USD1,711.25 a troy ounce, up from a session low of USD1,706.95 and down from a high of USD1,712.05 a troy ounce.

Gold futures were likely to test support at USD1,705.45 a troy ounce, Monday's low, and resistance at USD1,719.35, Fridays' high.

Gold dipped earlier as investors shunned risk over ongoing doubts as to whether Spain will request financial assistance from its neighbors.

Spanish Prime Minister Mariano Rajoy criticized the idea of giving a new European Union Commissioner greater say-so over eurozone national budgeting policies, saying it could be counterproductive, though he did say Madrid would considering seeking a bailout "if we think it is in the interest of Spaniards."

Elsewhere in Europe, Spanish retail sales fell 10.9% from the same month a year ago, much worse than market expectations for a decline of 6.2%, which dampened appetite for risk, including gold.

Requesting financial assistance would allow Spain to tap the European Central Bank's bond-buying program, which would lower yields in Spanish government debt auctions and ease credit conditions in the country.

Meanwhile in Greece, the country is negotiating austerity terms with its troika of lenders, the International Monetary Fund, the European Central Bank and the European Commission.

Concerns that not all in Athens are on board with wage reforms spooked investors earlier and sent gold falling on fears the debt crisis may reheat in Greece.

The metal regained strength later on sentiment global central banks will keep monetary policies loose, especially in Japan, where the latest announcement on monetary policy is due out later this week.

Meanwhile, markets were closed in the U.S. as were many businesses along the heavily populated eastern seaboard with the arrival of Sandy, a massive post-tropical system that came ashore along the New Jersey coast.

Elsewhere on the Comex, silver for December delivery was up 0.51% and trading at USD31.908 a troy ounce, while copper for December delivery was up 0.09% and trading at USD3.510 a pound.

[hodhod2000]

The trading range for today is expected among the key support at 1675.00 and key resistance now at 1745.00.

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 were little changed during European morning trade on Monday, as the fiscal uncertainty surrounding Spain and Greece continued to drive investors to the relative safety of the U.S. dollar.

Growing expectations the Bank of Japan will introduce more monetary easing measures at its next policy meeting on October 30 supported the precious metal.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,711.65 a troy ounce during European morning trade, nearly flat on the day.

Prices held in a tight trading range of USD1,717.85 a troy ounce, the daily high and a session low of USD1,710.85 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 USD1,731.25, the high from October 22.

Trading activity was expected to remain thin on Monday, as a result of the first unscheduled, market-wide shut down since September 2001, as Hurricane Sandy approached the northeastern U.S.

Gold�s losses came as the euro re-approached a three-week low against the U.S. dollar, while the dollar index, which tracks the performance of the greenback against a basket of six other major currencies, was up 0.27% to trade at 80.32, close to a seven-week high.

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.

Markets were jittery amid ongoing uncertainty over whether Spain is preparing to request a bailout from its euro zone partners, which would activate a bond buying program by the European Central Bank.

Meanwhile, doubts over whether Greece can meet austerity targets demanded by the troika mounted after the country�s opposition leaders said his party would vote against an austerity package expected to go before parliament later this week.

The yellow metal was supported as traders turned their attention to the outcome of Tuesday�s Bank of Japan policy meeting amid ongoing speculation over the possibility of more easing from the central bank.

Expectations of monetary stimulus tend to benefit gold, as the precious metal is seen as a safe store of value and inflation hedge.

Gold traders were also awaiting Friday�s closely-watched U.S. nonfarm payrolls data after the unemployment rate unexpectedly fell to 7.8% in September from 8.1% the previous month.

Doubts over the U.S. economic recovery persisted in spite of Friday�s better-than-expected data on U.S. third quarter growth.

The U.S. economy grew by 2% in the three months to September, on the back of stronger consumer spending, after expanding by 1.3% in the preceding quarter. Economists had predicted growth of 1.9%.

From a technical standpoint, 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.

Elsewhere on the Comex, silver for December delivery shed 0.3% to trade at USD31.93 a troy ounce, while copper for December delivery fell 0.75% to trade at USD3.522 a pound.

[fahim017]

5 free market-oriented price formation and a more upright on the chart of the day, if you can break the 1551 soiting what good sometimes fly the check if they could hit 1, 540-level, so that you can see some quick fast record rally, about ... ... You buy the bigger the system all the time.

[winstead]

Technically, gold is still trading in the range of daily consolidation in 1714-1698. Break up will bring gold into the price range of 1730.

[nurdiantofxwave]

After break weekly pivot level (1712.67), gold move up but limited, then its retrace down until touch and hold at 1708.57 as monthly support 1 level. Gold predicted will stagnan in this day at range 1704.00-1715.00.

[Robi]

An interesting situation was formed on gold, the price formed a side channel, a few hours ago, there was a retreat from the upper boundary-layer resistance 1715.00, but still too early to sell, and the obvious support of 1710.00, while waiting for the breakthrough of one of the levels.

[hictor23]

XAU/USD
SELL
Enter :- 1713.95000
TP1 :- 1713.64451
TP2 :- 1713.33906
SL :- 1714.56105

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