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Sunday, November 6, 2011
Friday, November 4, 2011
Gold technical of Nov
GOLD (Spot) intraday: further upside. |
| Pivot: 1738.00 Our Preference: LONG positions above 1738 with targets @ 1792 & 1813. Alternative scenario: The downside penetration of 1738 will call for 1721 & 1706. Comment: the break above 1738 is a positive signal that has opened a path to 1792. |
Thursday, November 3, 2011
Gold Eases After Rally, Holds Near 6-Week Top
By: Reuters
Gold ticked lower on Friday after rising more than 1 percent in the previous session, holding near its highest in six weeks due to the uncertainty surrounding the euro zone debt crisis and the prospect of a Greek exit from the euro.
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Tom Grill | Iconica | Getty Images
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-2.66 (-0.15%) 
]fell $6.21 an ounce to $1,756.44 an ounce by 0014 GMT, but headed for its second week of gains. Gold jumped to as high as $1,767.40 on Thursday, its strongest since Sept. 22 -- still below a record around $1,920 hit in September.
U.S. gold [GCCV1 1762.50 -2.60 (-0.15%) ]edged down 0.39 percent to $1,758.5 an ounce.
-2.60 (-0.15%) ]edged down 0.39 percent to $1,758.5 an ounce.
Intense European pressure forced debt-stricken Greece to seek political consensus on a new bailout plan instead of holding a referendum after EU leaders raised the prospect of a Greek exit from the euro to preserve the single currency.
The Group of 20 is considering injecting billions of dollars into the world economy through the International Monetary Fund to increase global liquidity, G20 sources said on Thursday.
The Nikkei share average rose more than 1 percent in early trade on Friday, catching up with U.S. gains after a Japanese holiday, on optimism that Greece will abandon a proposed referendum that threatened to undermine a plan to contain Europe's debt crisis.
The euro gained against the dollar and yen in volatile trade on Thursday as optimism that Greece will forego plans to hold a referendum on its bailout package trumped a surprising interest rate cut by the European Central Bank.
Gold technical of Nov3 afternoon
GOLD (Spot) intraday: further upside. |
| Pivot: 1720.00 Our Preference: LONG positions above 1720 with 1752 & 1792 in sight. Alternative scenario: The downside breakout of 1720 will open the way to 1706 & 1692. Comment: the immediate trend remains up and the momentum is strong. |
Wednesday, November 2, 2011
Gold Steady as EU Debt Worries Remain in Focus
By: Reuters
Spot gold [XAU= 1733.36 -4.34 (-0.25%) ]inched down 0.1 percent to $1,735.19 an ounce by 0034 GMT, after rising for two consecutive sessions.
Gold prices held steady on Thursday, supported by worries about the euro zone's debt crisis ahead of a rate decision by the European Central Bank and a key Group of 20 summit.
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Tom Grill | Iconica | Getty Images
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-4.34 (-0.25%) ]inched down 0.1 percent to $1,735.19 an ounce by 0034 GMT, after rising for two consecutive sessions.
U.S. gold [GCCV1 1732.20 
2.60 (+0.15%) ]gained 0.4 percent to $1,737.20.
2.60 (+0.15%) ]gained 0.4 percent to $1,737.20.
Investors will closely watch the rate decision by the European Central Bank![[cnbc explains]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_tBUtO6rrP45yjwVZKSCwxSv1Cvj4UdqQR3Go1lIZ_egjh6KbSTUzSQwwB3t1yb_FaC6Y_qxcni00b-xLPqPE1juBeqFqmcRK_DD_a1oKn1LfbehVP0f1SouzaJfHagMeWji0tCKtkKPpalM2U6xAHu0fo-WxurrKD_g7D6AWh3D2KpcxMUw3jilFweUnvRTA=s0-d)
later in the day, after the U.S. Federal Reserve on Wednesday said it was mulling the possibility of buying more mortgage debt to spur a struggling recovery but offered no new stimulus.
later in the day, after the U.S. Federal Reserve on Wednesday said it was mulling the possibility of buying more mortgage debt to spur a struggling recovery but offered no new stimulus.
The leaders of Germany and France told Greece on Wednesday it would not receive another cent in European aid until it decides whether it wants to stay in the euro zone.
A Group of 20 summit is to take place on Thursday and Friday, with Europe's debt crisis expected to dominate the talks.
Holdings of the iShares Silver Trust [SLV 33.25 0.92 (+2.85%) ], the world's largest silver-backed exchange-traded fund, edged down 4.07 tonnes from a day earlier to 9,776.14 tonnes by Nov. 2.
0.92 (+2.85%) ], the world's largest silver-backed exchange-traded fund, edged down 4.07 tonnes from a day earlier to 9,776.14 tonnes by Nov. 2.
U.S. stocks rebounded from two days of sharp losses on Wednesday after theFederal Reserve said it is prepared to do more for the economy if conditions warrant, helping to stanch the panicky reaction to Europe's debt crisis.
said it is prepared to do more for the economy if conditions warrant, helping to stanch the panicky reaction to Europe's debt crisis.
The euro clung to overnight gains early in Asia on Thursday as the panicky reaction to Greece's plan to take a euro zone debt deal to a referendum faded somewhat ahead of the G20 summit.
Copyright 2011 Thomson Reuters. Click for restrictions.
Technical of gold Nov 1
GOLD (Spot) intraday: the bias remains bullish. |
| Pivot: 1704.00 Our Preference: LONG positions above 1704 with targets @ 1732 & 1745. Alternative scenario: The downside penetration of 1704 will call for a slide towards 1692 & 1681. Comment: the RSI broke above a declining trend line. |
Tuesday, November 1, 2011
Gold Steady Below $1,720; Greek Debt Worries Return
By: Reuters
Gold prices held steady below $1,720 on Wednesday, as rekindled worries about Greece's debt crisis and a firm dollar put bullion under pressure, while safe-haven appetite is likely to support sentiment.
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Tom Grill | Iconica | Getty Images
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5.44 (+0.32%) ]edged down 0.1 percent to $1,716.79 an ounce by 0020 GMT.
U.S. gold [GCCV1 1724.40 12.60 (+0.74%) ]gained 0.4 percent to $1,718.90.
12.60 (+0.74%) ]gained 0.4 percent to $1,718.90.
Markets tumbled on Tuesday after Greece's Prime Minister George Papandreou shocked the world by announcing plans to hold a referendum on the bailout plan, throwing hopes on solving Greece's debt crisis into jeopardy.
French President Nicolas Sarkozy and German Chancellor Angela Merkel will hold an emergency meeting with Greece on Wednesday to push for a quick implementation of Athens' bailout deal, the "only solution" to its debt crisis, Sarkozy said on Tuesday.
Eyes are on a news conference by the U.S. Federal Reserve chief Ben Bernanke later in the day after a two-day policy meeting. The Fed looks set to take a breather from monetary stimulus measures on Wednesday, even if financial market turbulence heightens the chances of action later.
Manufacturing surveys on Tuesday from North America to debt-crisis-hit Europe to Asia painted a portrait of softening global demand, but analysts do not see a world recession in the cards.
MF Global Holdings Ltd [MF.N 1.20 --- UNCH ] failed to protect customer accounts by keeping them separate from its own funds, said a top U.S. exchange regulator, another shock for commodity markets scrambling to contain fallout from the brokerage's bankruptcy.
] failed to protect customer accounts by keeping them separate from its own funds, said a top U.S. exchange regulator, another shock for commodity markets scrambling to contain fallout from the brokerage's bankruptcy.
U.S. silver [SICV1 33.435 0.704 (+2.15%) ] rose as much as 2.3 percent to $33.50 before easing to $33.18.
0.704 (+2.15%) ] rose as much as 2.3 percent to $33.50 before easing to $33.18.
U.S. stocks tumbled on Tuesday after investors were blindsided by a surprise call for a Greek referendum on an EU bailout plan, casting doubt on the sustainability of the recent market rally.
The euro wallowed at three-week lows against the dollar early in Asia on Wednesday, having suffered its biggest two-day fall since May on uncertainty about the euro zone debt deal after Greece's shock call for a referendum.
Copyright 2011 Thomson Reuters. Click for restrictions.
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