Gold

[romannil]

Gold technical analysis for 16.10.2012 by using : Auto pivot indicator.

resistance 3:1775.70
resistance 2:1764.40
resistance 1:1750.50

pivot point :1739.20

support 1:1725.30
support 2:1714.00
support 3:1700.10

[raihan8212]

Gold prices crept up in Asian trading on Tuesday as investors cautiously embraced risk early in the session on news U.S. retail sales beat expectations, ditching the safe-haven dollar in the process.

Weaker-than-expected U.S. factory offset gold's gains, allowing for choppy trading.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were up 0.01% at USD1,737.75 a troy ounce, up from a session low of USD1,736.85 and down from a high of USD1,739.75 a troy ounce.

Gold futures were likely to test support at USD1,730.15 a troy ounce, Monday's low, and resistance at USD1,750.55, Monday's high.

The dollar, which normally trades inversely with gold, weakened on news retail sales in the U.S. beat expectations, which fueled investor appetite for risk.

The Commerce Department reported earlier that retail sales rose by a seasonally adjusted 1.1% in September, outpacing market calls for a 0.8% increase.

Retail sales in August were revised up to a 1.2% gain from a previously reported increase of 0.9%.

Core retail sales, which exclude automobile sales, rose by 1.1%, beating expectations for a 0.6% increase.

The dollar, however, saw some demand on a report showing that manufacturing activity in New York state contracted for the third consecutive month, which marred the yellow metal's luster in the session.

The New York Federal Reserve's index of manufacturing conditions improved to -6.2 in October from -10.4 in September, but missed analysts' predictions for a reading of around -4.5

The dollar also saw support amid ongoing uncertainty as to whether or not Spain will seek a bailout.

Market talk says the country is growing closer to requesting rescue financing, though Madrid has yet to officially do as such, which continued to fuel uncertainty and gave the dollar support on Tuesday.

Spain will hold regional elections on Oct. 21, and investors are now assuming any decision to seek a rescue financing package will wait until after then.

Markets are keeping an eye on Greece as well, growing a little edgy as the country prepares for its next tranche of financial aid.

Elsewhere on the Comex, silver for December delivery was down 0.07% and trading at USD32.720 a troy ounce, while copper for December delivery was down 0.03% and trading at USD3.700 a pound.
.
Gold futures traded lower during U.S. afternoon hours Monday, falling to the lowest level since mid-September after official data indicated that U.S. retail sales rose more-than-expected in September, increasing for the third successive month.

Uncertainty over Spain�s position on formally requesting a bailout from its euro zone partners also weighed on sentiment, boosting demand for the safe haven U.S. dollar.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,738.75 a troy ounce during U.S. afternoon trade, tumbling 1.19%.

Prices declined by as much as 1.35% earlier in the session to hit a daily low of USD1,735.55 a troy ounce, the weakest level since September 13.

Gold futures were likely to find support at USD1,705.55 a troy ounce, the low from September 13 and resistance at USD1,774.95, the high from October 12.

The Commerce Department said earlier that retail sales rose by a seasonally adjusted 1.1% in September, beating expectations for a 0.8% increase.

Retail sales in August were revised up to a 1.2% gain from a previously reported increase of 0.9%.

Core retail sales, which exclude automobile sales, rose by 1.1%, outstripping expectations for a 0.6% increase.

The upbeat retail sales data reinforced the view that the U.S. economy is improving, raising concern the Federal Reserve might scale back its monetary easing measures.

The Fed announced last month that it will buy USD40 billion of mortgage-backed securities each month until the U.S. labor market improves.

A separate report showed that the New York Federal Reserve�s index of manufacturing conditions improved to minus 6.2 in October from minus 10.4 the previous month, but remained in contraction territory for the third consecutive month.

Meanwhile, investors were jittery as uncertainty over Spain�s position on formally requesting a bailout from its euro zone partners persisted.

Market players have been anticipating for the past month that the Spanish government would ask for a full-scale sovereign bailout.

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.

European Union policymakers will hold a two-day summit in Brussels starting on October 18 to discuss ways to firewall and extinguish the debt crisis as well as Greece's steps towards fiscal recovery.

The U.S. dollar was broadly higher against its major counterparts, with the dollar index, which tracks the performance of the greenback against a basket of six other major currencies, gaining 0.07% to trade at 79.85.

Gold prices often move inversely to the U.S. dollar, as gold becomes more expensive for buyers using other currencies.

Prices came under further pressure after breaking below key support levels close to the USD1,739-level, triggering fresh sell orders amid bearish chart signals.

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 plunged 2.67% to trade at USD32.77 a troy ounce, while copper for December delivery fell 0.17% to trade at USD3.697 a pound.

[smsobuj]

Gold trading allows the possibilities and marks for traders to make short sell and benefit from the falling market. Best part of gold trading is "margin trading" from brokerage platform. Thus allowing traders to leverage relatively small investment

[hodhod2000]

The trading range for this week is expected among the key support at 1720.00 and key resistance now at 1805.00.
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.

[monir01]

today,Initial support at 1518 (May 27
low) followed by 1504 (May 23 low).
Initial resistance is now at 1550 (June
1 high) followed by 1577 (All time
high

---------- Post added at 11:26 PM ---------- Previous post was at 11:24 PM ----------

The trading rang for today is among
the major support @ 1498 and the
key of resistance @ 1511.
The general over short term basis is to
the upside targeting 1511 as far as
area of 1520

[Pioner3]

Gold after all still managed to break through the bottom of the channel is very strong convergence to the south, and even managed to overcome the 200 Rolling, immediate support from which to consider buying -1723.

[forexlearn]

Gold I am really about fear about gold. Because I think gold is too much fast and took money from you or given you. SO I think if you have better deposit then you can do it other wise careful from Gold.

[monir111]

main ye string Gold ka conversation ka liye bana raha hain. sabhi users ko ya upload korana ke liye swagat korta hoon.

[raihan8212]

Gold futures added to losses during U.S. morning hours on Monday, falling to the lowest level since mid-September after official data showed that U.S. retail sales rose more-than-expected in September, increasing for the third successive month.

Uncertainty over Spain�s position on formally requesting a bailout from its euro zone partners also weighed on sentiment, boosting demand for the safe haven U.S. dollar.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,737.45 a troy ounce during U.S. morning trade, tumbling 1.25%.

Prices declined by as much as 1.35% earlier in the session to hit a daily low of USD1,735.55 a troy ounce, the weakest level since September 13.

Gold futures were likely to find support at USD1,705.55 a troy ounce, the low from September 13 and resistance at USD1,774.95, the high from October 12.

The Commerce Department said earlier that retail sales rose by a seasonally adjusted 1.1% in September, beating expectations for a 0.8% increase.

Retail sales in August were revised up to a 1.2% gain from a previously reported increase of 0.9%.

Core retail sales, which exclude automobile sales, rose by 1.1%, outstripping expectations for a 0.6% increase.

The upbeat retail sales data reinforced the view that the U.S. economy is improving, raising concern the Federal Reserve might scale back its monetary easing measures.

The Fed announced last month that it will buy USD40 billion of mortgage-backed securities each month until the U.S. labor market improves.

A separate report showed that the New York Federal Reserve�s index of manufacturing conditions improved to minus 6.2 in October from minus 10.4 the previous month, but remained in contraction territory for the third consecutive month.

Meanwhile, investors were jittery as uncertainty over Spain�s position on formally requesting a bailout from its euro zone partners persisted.

Market players have been anticipating for the past month that the Spanish government would ask for a full-scale sovereign bailout.

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.

European Union policymakers will hold a two-day summit in Brussels starting on October 18 to discuss ways to firewall and extinguish the debt crisis as well as Greece's steps towards fiscal recovery.

The U.S. dollar was broadly higher against its major counterparts, with the dollar index, which tracks the performance of the greenback against a basket of six other major currencies, gaining 0.07% to trade at 79.85.

Gold prices often move inversely to the U.S. dollar, as gold becomes more expensive for buyers using other currencies.

Prices came under further pressure after breaking below key support levels close to the USD1,739-level, triggering fresh sell orders amid bearish chart signals.

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 plunged 2.5% to trade at USD32.84 a troy ounce, while copper for December delivery fell 0.85% to trade at USD3.672 a pound.

Official data released earlier showed that Chinese consumer prices rose 1.9% in September from the year-ago period, in line with expectations and down from 2.0% in August, while producer price inflation fell 3.6%, also in line with expectations.

The data came after a report over the weekend showed that Chinese exports grew 9.9% on the year in September, above expectations for a 5.5% gain. Imports rose 2.4% from a year earlier, in line with expectations.

Copper traders were now looking ahead to Chinese third quarter growth figures due out on October 18, to gauge whether the world second largest economy is heading towards a hard or a soft landing.

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

[Macintosh]

Well, the metal started to show a real signal a trend reversal is the breakdown of a very strong support in 1740 ... and the breakdown of the moving average with a period of 200, so now consider the movement of gold down with a stop at most 1748 and think it may fall to 1710 and below ...