Gold

[Bieela_cute]

Gold was trading lower at 1737.72 at the time of writing as an improvement in economic data from the U.S. to China damped speculation of more stimuli around the world, reducing demand for bullion as an alternative investment. Today, investors should monitor the key risk event; the Existing Home Sales in the U.S to get visibility on the commodity. In addition, European leaders will conclude a two-day meeting in Brussels after committing yesterday to their goal of creating a regional bank supervisor by year-end, putting the region closer to being able to provide direct bank aid from its firewall fund. That will set the stage for talks on how to handle failing banks and exploration of cost-sharing strategies, said European Union Economic and Monetary Affairs Commissioner Olli Rehn. The latest development from the EU summit will affect the overall market sentiments. Investors should be very prudent and should closely monitor the trend of the USD to further indication on the movement of the yellow metal, as the USD and gold often trade inversely to each other. The resistance level is at 1752.06 and the support level is at 1737.82.

[alskndry]

Gold has broken the support level at 1740.05. So, I think the bearish sentiment still occur on Gold. I think Gold will fall and has a potential to touch the next support level at around 1719.66

[kakpay]

The price of gold is still under pressure from the resistance can not exceed 1753 two days ago and again in 1742 through the support yesterday. Now the price is moving around 1736. This opens up the potential for weakening gold price back to test the next support level at 1727. When the level of 1727 persist, gold could rebound back up area 1742. While the 1727 penetration level will bring gold into an important support in 1700.

[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 USD1738.35 a troy ounce at time of writing falling 0.36%.

It earlier traded at a session low USD1736.85 a troy ounce. Gold was likely to find support at USD1730.15 and resistance at USD1754.95.

US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, rose 0.00% to trade at USD79.42.

Elsewhere on the Comex, Silver for December delivery fell 0.47% to trade at USD32.715 a troy ounce while Copper for December delivery fell 0.45% to trade at USD3.713 a pound.

[waqar arif]

Main ye thread GOLD ke discussion ke liye bana raha hain. Sabhi members ko ya post karne ke liye swagat karta hoon.

i think the gold is going down and there is down trend in the gold so i am right now thinking that eventually it would rise and when i had some clue about the rise propable i would like to buye it ...thats how i am thinking right now about the situation of the gold.

[ashaab]

The short term trend of the Gold is to the upside. Intraday trading range of the Gold is expected among key support at 1720.00 and key resistance at 1775.00. Based upon my chart analysis, I prefer to buying the Gold around 1730.00 with targets 1755.00. 1775.00 then 1790.00 and stoploss with four hour candle closing below 1720.00.

[romannil]

Gold technical analysis for 19.10.2012 by using : Auto pivot indicator.

resistance 3:1764.57
resistance 2:1758.63
resistance 1:1753.97

pivot point :1748.03

support 1:1743.37
support 2:1737.43
support 3:1732.77

[secret alibi]

Bias is still neutral ini nearest term. Immediate resistence is found at 1748 region as MA 50 on chart 1H, a clear break above this area could trigger further bullish at 1755 area. Immediate support is seen at 1735 area, a clear break below this area should trigger further bearish at 1728 area.
Resistance Level : 1748, 1755, 1765
Support Level : 1735, 1728, 1715
Trading Range : 1728 – 1755
Trend : Neutral

[kakpay]

Major conditions: bearish trend, momentum yesterday signaled a huge seller and still be able to enter the target demand zone next.

Until this weekend, it appears that the gold price will be around the zone's demand is still fresh. It's wise to be a seller.

[Bieela_cute]

19 Oktober 2012
Elliott: flat correction down 1730.60
Market should not go lower than 1739.76 - 1735.57. After this move down it should go up to 1746.80 - 1749.66 area.
Warning: Low Zone
Technical points
Key point 1,740.4100
Entry point 1,746.0300
Elliott 1,753.6300
Closing 1,741.3000
Projection 1,728.7900
Trendline 1,752.3100
Trendline 1,750.9900
Supports / Resistances
Res 2 1,758.0300
Ex-High 1,752.3100
Res 1 1,749.6600
Pivot 1,743.9400
Sup 1 1,735.5700
Ex-Low 1,738.2200
Sup 2 1,729.8500