Gold

[Bieela_cute]

Elliott: common flat correction up 1727.11
Current rise seems to be over near 1718.49 or 1730.09 for a retracement towards 1706.89 - 1699.80 area.
Warning: Imminent end of bullish move
Technical points
Key point 1,729.4500
Entry point 1,706.2900
Elliott 1,672.8200
Closing 1,715.9200
Projection 1,727.1100
Trendline 1,683.6900
Trendline 1,694.5700
Supports / Resistances
Res 2 1,744.2600
Ex-High 1,721.0600
Res 1 1,730.0900
Pivot 1,706.8900
Sup 1 1,692.7200
Ex-Low 1,683.6900
Sup 2 1,669.5200

[muhin_123]

Gold is very risky , i think but it is more profitable from other currency.If one pips up in volume 0.01$ when rate is 1.00$. So it is very risky & profitable.If your invest is big , you trade in gold.If your invest is small it is better not trade in gold.I lost 35$ in gold today.

[gul]

mairey tamam forex dosto maira khayal hy k Gold ka 1 bahut strong resistance lagta hai 1550 pe .. .waise to is point kop todna thoda mushkil hai lekin agar gold iske upar nikal gaya to fir iska down trend itnio easily nahi aayega..
So for gold i would recommend you guys to wait and watch.......
thanks

[nurdiantofxwave]

Gold keep in up position and now, it's still continuing up. In asian market session ago, gold go down weak until touch 1706.00 as a daily pivot point, after that, gold retrace up and make strong movement. If this movement still continue, gold predicted to rise until 1737.67.

[romannil]

Gold technical analysis for 07.11.2012 by using : Auto pivot indicator.

resistance 3:1766.20
resistance 2:1743.10
resistance 1:1729.10

pivot point :1706.00

support 1:1692.00
support 2:1668.90
support 3:1654.90

[raihan8212]

Gold prices fell on Wednesday as investors waited for results of U.S. elections in the safety of the greenback, which trades inversely from gold, the traditional hedge to weakening paper currencies.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were down 0.31% at USD1,709.75 a troy ounce, up from a session low of USD1,705.95 and down from a high of USD1,711.85 a troy ounce.

Gold futures were likely to test support at USD1,683.55 a troy ounce, Tuesday's low, and resistance at USD1,720.85, Tuesday's high.

Results were trickling in during early Asian trading on Wednesday, with predicted results hitting the wire so far.

Key battleground states such as Florida, Ohio and Wisconsin have yet to indicate a winner, which would tip the election in favor of either President Barack Obama or his Republican challenger Mitt Romney.

Uncertainty kept investors camped out in safe-haven dollar positions, which was bearish for the yellow metal.

Results could have major long-range impacts on both the dollar and gold.

Mitt Romney has suggested he opposes the Federal Reserve's loose policies, including quantitative easing, under which the Fed buys bonds held by banks, pumping the economy full of liquidity to depress borrowing costs to spur recovery, which weakens the dollar as a side effect.

Fed Chairman Ben Bernanke's term ends in January of 2014, and a Romney victory could up the chances that today's head of the U.S. central bank could be replaced by a more hawkish figure.

Yet Romney has proposed cutting taxes and dismantling regulations erected under President Obama in the last four years, and a Romney victory could see gold spike amid a risk-on trading session and then drop later if he follows through with measures encouraging tighter monetary policy.

An Obama victory could signal the Fed will likely stick with its loose policies, which would support gold in the long run.

Investors kept an eye on events in Europe, which fueled more demand for dollars.

Greek lawmakers will vote later Wednesday on a new round of austerity measures Athens must secure to tap its next installment of bailout money provided by the country's European neighbors as well as the International Monetary Fund.

Some members of the government coalition have balked at the government's proposed wage cuts and tax hikes.

Meanwhile investors largely shrugged off data revealing that German factory orders dropped 3.3% in September, worse than expectations for a 0.5% decline.

Elsewhere on the Comex, silver for December delivery was down 0.64% and trading at USD31.828 a troy ounce, while copper for December delivery was down 0.37% and trading at USD3.502 a pound.

[hodhod2000]

The trading range for today is expected among the key support at 1660.00 and key resistance now at 1700.00.

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.

[hodhod2000]

The trading range for today is expected among the key support at 1660.00 and key resistance now at 1700.00.

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.

[winstead]

Technically, gold is currently trading below the balance in price range 1687. If gold can not break this level then gold will go back down to 1670 price levels even lower.

[forexking2]

The trading range for today is among the key support at 1660.00 and key resistance 1700.00

The short term trend to the upside targeting 1945.00 per ounce consistently trading above the 1520.00 close of the week.