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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.

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.

Tom Grill | Iconica | Getty Images

Spot gold [XAU=  1759.99    -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.

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.

Gold Steady as EU Debt Worries Remain in Focus

By: Reuters

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.

Tom Grill | Iconica | Getty Images

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.

U.S. gold [GCCV1  1732.20    2.60  (+0.15%)   ]gained 0.4 percent to $1,737.20.

Investors will closely watch the rate decision by the European Central Bank 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.

RELATED LINKS

• MF Global Files for Bankruptcy on Bad Euro Zone Bets
• Australia's OneSteel Shares Plunge on Profit Warning
• Resolute Mining: A Cheap Gold Producer 

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.

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.

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.

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.

Tom Grill | Iconica | Getty Images

Spot gold [XAU=  1724.39    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.

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.

RELATED LINKS

• MF Global Files for Bankruptcy on Bad Euro Zone Bets
• Australia's OneSteel Shares Plunge on Profit Warning
• Resolute Mining: A Cheap Gold Producer 

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.

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.

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.

Gold Steady on Euro Zone Fear; Firm Dollar Weighs

By: Reuters

Spot gold was steady on Tuesday, supported by safe-haven demand on resurfacing uncertainty over the euro zone's efforts to resolve its debt crisis, while a strong dollar weighed down prices.

AP

Italian and Spanish bond yields soared ahead of a key Group of 20 meeting that would likely press European leaders on details of how to tackle the crisis. 

The Dollar also surged nearly 1 percent against a basket of currencies, a day after Japan's massive intervention pushed the Dollar Index[.DXY  77.07    0.91  (+1.19%)   ] up 1.5 percent.

"The European problems will resurface through the end of the year," said Dominic Schnider, head of commodity research atUBS Wealth Management [UBS  12.62    -1.22  (-8.81%)   ] in Singapore, expecting safe-haven demand to help prices revisit a record high of above $1,920 by year-end.

But recent gains in commodities, cause by bursts of optimisim over Europe, may be wiped out if the crisis is not resolved soon, Schnider added.

Spot Gold [XAU=  1708.6899    -5.26  (-0.31%)   ] was little changed at $1,714.54 an ounce by 0701 GMT, after staging a monthly rise of 5.5 percent in October.

U.S. Gold [GCCV1  1711.80    -13.40  (-0.78%)   ] lost half a percent to $1,716.50. Technical analysis suggested that spot gold could retrace to below $1,704 during the day, said Reuters market analyst Wang Tao.

Adding to the worries about euro zone, Greece's prime minister called a referendum on the latest bailout deal.

The fallout from the collapse of MF Global Holdings Ltd [MF.N  1.20    -0.23  (-16.08%)   ] rippled through global exchanges on Tuesday, as operators moved to suspend the U.S. futures broker or limit trades of its customers.

RELATED LINKS

• MF Global Files for Bankruptcy on Bad Euro Zone Bets
• Afterglow From Euro Bailout Quickly Fades for Investors
• Resolute Mining: A Cheap Gold Producer 

The weaker-than-expected China official purchasing managers index for October increased the gloom on the global economic outlook, but it also reinforced the expectation that China's central bank could soon start to loosen up its monetary policy.

Physical market activities were muted, and premiums in Hong Kong eased to near $1 an ounce over spot prices, from $1-$1.50 last week.

"Jewellery sector demand has been quiet as jewellers are unwilling to keep much of an inventory," said Dick Poon, manager of precious metals of Heraeus in Hong Kong.

"They are worried about consumption in Europe and the United States in Christmas holiday season, with the economic uncertainty looming large."

Physical buying slowed to a trickle after prices recovered to above $1,700 last week, from an October trough of $1,603.49 on Oct 20, dealers said.

Copyright 2011 Thomson Reuters. Click for restrictions.

GOLD technical of Nov 1 afternoon

OLD (Spot) intraday: the downside prevails.

Pivot: 1728.00 Our Preference: SHORT positions below 1728 with 1695 & 1678 as next targets. Alternative scenario: The upside breakout of 1728 will open the way to 1752 & 1765. Comment: the RSI is capped by a bearish trend line.

Gold Hovers Around $1,700 Ahead of EU Summit

By: Reuters

Gold prices hovered around $1,700 an ounce on Wednesday, after rising more than 3 percent in the previous session as safe-haven bids returned on doubts European leaders can agree on a plan to end the euro zone debt crisis at a summit later in the day.

Jose Luis Pelaez | Iconica | Getty Images

Spot gold [XAU=  1715.15    14.50  (+0.85%)   ]edged up 0.2 percent to $1,703.59 an ounce by 0024 GMT, after posting its biggest daily rise since Sept 2 on Tuesday.

U.S. gold [GCCV1  1716.00    15.60  (+0.92%)   ]gained 0.3 percent to $1,705.40.

Safe-haven bids returned on Tuesday after being absent for weeks, as a flare-up over the European Central Bank and political turmoil in Italy kept the euro zone on edge on the eve of the summit.

Adding to the uncertainty on economic outlook, U.S. consumer confidence dropped unexpectedly to its lowest level in two-and-a-half years in October.

Holdings of SPDR Gold Trust [GLD  165.59    4.57  (+2.84%)   ],  the world's largest gold-backed exchange-traded fund, rose nearly 0.9 percent from a day earlier to a one-month high of 1,233.564 tonnes by Oct 24.

Spot silver [XAG=  33.26    0.04  (+0.12%)   ] lost half a percent to $33.07, easing from a 4.6-percent rise in the previous session, its largest one-day rise in nearly three weeks.

Spot palladium [XPD=  647.25    10.32  (+1.62%)   ] gained 0.6 percent to $640.95, on course for its fourth consecutive session of gains. Spot platinum[XPT=  1567.49    10.89  (+0.7%)   ] hit a 1-1/2-week high of $1,571, before easing to $1,569.74, up 0.8 percent from the previous close.

The euro and commodity currencies stayed under a bit of pressure early in Asia on Wednesday, having lost some of their gloss as markets geared up for what could be a disappointing outcome at a keenly awaited European Union leaders' summit.

U.S. stocks fell on Tuesday on doubts European leaders can agree on a plan to end the euro zone debt crisis, while major corporations disappointed investors with their outlooks.

technical of oct 26 afternoon

GOLD (Spot) intraday: the bias remains bullish.

Pivot: 1690.00 Our Preference: LONG positions above 1690 with 1725 & 1730 in sight. Alternative scenario: The downside penetration of 1690 will call for 1672.5 & 1659. Comment: the RSI is supported by a rising trend line.

Gold Steady as Market Eyes EU Summit

By: Reuters

Gold prices held steady on Tuesday after gaining for two consecutive sessions, as investors wait for European leaders to agree on a strategy to solve the euro zone debt crisis at a gathering on Wednesday.

Anthony Bradshaw | Photographer's Choice RF | Getty Images

Spot gold [XAU=  1659.10    6.92  (+0.42%)   ]edged down 0.2 percent to $1,649.59 an ounce by 0025 GMT, after rising 2 percent over the past two sessions.

U.S. gold [GCCV1  1655.70    3.40  (+0.21%)   ]was little changed at $1,651.50. 

As investors wait for the second European Union summit on Wednesday, business surveys showed that business activity at manufacturers and service sector companies in the euro zone further contracted from the previous month.

The U.S. Federal Reserve  could potentially do more to drive down mortgage rates to support the housing sector, and another round ofquantitative easing  is one possible option for the central bank to boost growth, said William Dudley, president of the New York Federal Reserve Bank.

Holdings in SPDR Gold Trust [GLD  161.02    1.50  (+0.94%)   ], the world's largest gold-backed exchange-traded fund, gained about half a percent to 1,233.564 tonnes by Oct. 24, after standing unchanged throughout last week.

U.S. stocks rose on Monday, as a flurry of merger activity and strong earnings from Caterpillar boosted investor sentiment and kept the three-week rally intact.

The euro edged lower on Tuesday, after hitting a six-week high against the dollar in the previous session, as investors grew confident European leaders will come up with a broad agreement to deal with euro zone's debt crisis at the summit scheduled for Wednesday.