Gold

[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 USD1705.15 a troy ounce at time of writing falling 0.46%.

It earlier traded at a session low USD1703.65 a troy ounce. Gold was likely to find support at USD1699.65 and resistance at USD1731.25.

US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, fell 0.00% to trade at USD80.17.

Elsewhere on the Comex, Silver for December delivery fell 0.74% to trade at USD31.840 a troy ounce while Copper for December delivery fell 0.37% to trade at USD3.546 a pound.

[ahmed fakhry]

Due to a significant increase in demand for gold in India, which is the largest importer of gold in the world and the fact that other investors started to enter to long positions being attracted by low prices, the Gold futures retreated from a seven-week low and were able to grow by $ 11.12 to $1717.80 per troy ounce on COMEX today.

[ispgamer]

XAU/UDS on candle 4H TF look consolidation still play here. And I see not good idea to be start for make an OP. Then, when I see to the weekly breakout line (1716.17), that line can become a trigger for more bulls if price (from bottom) can break that line 1716.17 on next move, I see.

[romannil]

Gold technical analysis for 26.10.2012 by using : Auto pivot indicator.

resistance 3:1734.57
resistance 2:1725.83
resistance 1:1718.47

pivot point :1709.73

support 1:1702.37
support 2:1693.63
support 3:1686.27

[raihan8212]

Gold futures traded higher during the U.S. afternoon session Thursday, holding on to gains after stronger-than-forecast U.S. data on durable goods orders and jobless claims.

The precious metal continued to draw support from the Federal Reserve�s ultra-loose monetary policy as well as some bargain buying.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,712.25 a troy ounce during U.S. afternoon trade, gaining 0.63%.

Prices rose by as much as 1.1% earlier in the day to hit a session high of USD1,718.45 a troy ounce. On Wednesday, gold prices fell to USD1,699.65 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 USD1,731.25, the high from October 22.

In the U.S. official data showed that durable goods orders, which includes transportation items, jumped by a seasonally adjusted 9.9% in September, compared to expectations for a 7.1% gain.

Excluding volatile transportation items durable goods orders rose by a seasonally adjusted 2.0% last month, beating expectations for a 0.8% gain.

Separately, the Labor Department said the number of people who filed for unemployment assistance in the U.S. last week fell to 369,000, from 392,000 the previous week, compared to expectations for a decrease to 370,000.

Also Thursday, the National Association of Realtors said its pending home sales index rose by 0.3% in September, below expectations for a 2.1% gain.

The flurry of data came a day after the Federal Reserve announced no new measures at the end of its policy-setting meeting. In its rate statement, the central bank said the U.S. economy is improving moderately, but said job growth has been slow and the unemployment rate remains elevated.

The Fed also said it planned to keep its benchmark short-term rate close to zero through mid-2015.

The Federal Reserve said in September it will purchase 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.

Meanwhile, market players continued to eye developments surrounding Spain, amid ongoing uncertainty over whether the debt-strapped country is moving closer to formally requesting a bailout from its euro zone partners.

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.

Elsewhere on the Comex, silver for December delivery rallied 1.53% to trade at USD32.10 a troy ounce, while copper for December delivery added 0.37% to trade at USD3.555 a pound.

[yudijoni]

Starting from the lower limit of the bearish channel yesterday had approached (now at 1694.89), eventually the price of gold (XAUUSD) was able to rebound to reach 1717.70.

Now the price of gold to try to keep moving on the moving average (now at 1711.50). When this analysis revealed the price of gold was falling back into the MA. Other support is also possible to test the 1705.92 which is the target of an optimal correction intraday uptrend is happening today.

If the support-support were maintained, the price of gold has the potential to go up to test high today which if penetrated will pave the way towards the 1732 area.

[raihan8212]

Gold futures were higher during U.S. morning trade on Thursday, holding on to gains after stronger-than-forecast U.S. data on durable goods orders and jobless claims.

The precious metal continued to draw support from the Federal Reserve�s ultra-loose monetary policy as well as some bargain buying.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,715.85 a troy ounce during U.S. morning trade, gaining 0.85%.

Prices rose by as much as 1.1% earlier in the day to hit a session high of USD1,718.45 a troy ounce. On Wednesday, gold prices fell to USD1,699.65 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 USD1,731.25, the high from October 22.

In the U.S. official data showed that durable goods orders, which includes transportation items, jumped by a seasonally adjusted 9.9% in September, compared to expectations for a 7.1% gain.

Excluding volatile transportation items durable goods orders rose by a seasonally adjusted 2.0% last month, beating expectations for a 0.8% gain.

Separately, the Labor Department said the number of people who filed for unemployment assistance in the U.S. last week fell to 369,000, from 392,000 the previous week, compared to expectations for a decrease to 370,000.

Also Thursday, the National Association of Realtors said its pending home sales index rose by 0.3% in September, below expectations for a 2.1% gain.

The flurry of data came a day after the Federal Reserve announced no new measures at the end of its policy-setting meeting. In its rate statement, the central bank said the U.S. economy is improving moderately, but said job growth has been slow and the unemployment rate remains elevated.

The Fed also said it planned to keep its benchmark short-term rate close to zero through mid-2015.

The Federal Reserve said in September it will purchase 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.

Meanwhile, market players continued to eye developments surrounding Spain, amid ongoing uncertainty over whether the debt-strapped country is moving closer to formally requesting a bailout from its euro zone partners.

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.

Elsewhere on the Comex, silver for December delivery rallied 1.85% to trade at USD32.19 a troy ounce, while copper for December delivery added 0.1% to trade at USD3.571 a pound.

[amni570]

Gold Buy limit 1719 current (1717.40) Sl 1713 Tp 1732

[winstead]

The bias remains bearish towards the key support area at 1685 area. It takes break down this area to continue the bearish trend towards the 1675 area for gold.

[turabawan8]

Yen weakens across the board � BTMU

The yen has continued to weaken in the Asian trading session with USDJPY and EURJPY climbing above 80.0 and 104.0 respectively. According to the BTMU Research Team, "Yen weakness overnight continues to reflect building expectations of additional monetary policy easing from the BoJ at next week's meeting." The Nikkei reported overnight that the BoJ is considering increasing its asset purchase program by JPY10.0 trillion.