Technical Outlook – Technical Outlook: In our last Gold Weekly Technical Outlook, we continued to highlight a critical resistance confluence at $1238/1243, “a region defined by the 38.2% retracement of the yearly range, the 100% extension of the advance off the August low, the December swing low and the long 200-week moving average.” Price is testing this zone now and a weekly close above is needed to keep the immediate long-bias viable.
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Gold Higher, Yen Outperforms as Risk Appetite Struggles
Yesterday’s broad dollar strength played out to drag on gold, but the recent mini range that has formed above the old $1217 pivot and below $1233 continues to play out. Within this range the market moves are simply noise, with the last six closes all being within $5 of each other.
Spot Gold : A Breakout on Either Side of the $1,178—1,213 Range Will Decide the Next Move
Gold is struggling to get fresh buyers that would take it decisively above the psychological level of $1,200. The yellow metal tumbled last week and made a low of $1,181 per ounce. However, it managed to bounce from those levels, recovering some of the loss, and closed at $1,191 per ounce, down 0.7 per cent for the week.
Nikkei 225 Technical Analysis: Can Impressive Gains Stick? – Gold Silver Reports
Gold Silver Reports (GSR) – The simple moving averages at 20-, 50- and 100 days remain in chronological order, but they are all now some way below the market.
MCX Gold 31700 & Silver 41000 Kya Ayega?? Bujho To Jaane – Neal Bhai Reports
MCX Gold 31700 & Silver 41000 Kya Ayega?? Bujho To Jaane – Neal Bhai Reports
Prime Minister Theresa May said Britain and the European Union were nearing a divorce deal but called on the bloc to show “goodwill and determination” to avoid a disorderly Brexit and secure a close future partnership. Holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.04 percent to 742.23 tonnes on Tuesday.
JPMorgan Predicts the Next Financial Crisis Will Strike in 2020
The good news is, the next one will probably generate a somewhat less painful hit than past episodes, according to their analysis. The bad news? Diminished financial market liquidity since the 2008 implosion is a “wildcard” that’s tough to game out.
Gold Trades Down and Looks to Test Trend line Support $1238
Gold Silver Reports (GSR) – The price of gold is trading down about -$12 at $1243.42 currently. The fall takes the price toward a trend line support line at $1241. That trend line was tested earlier in the month at $1238 and found modest buyers.