gold jinyu Sept.15th------19th Weekly Spot Gold Trend Review
This week international spot gold opening at 1228.58USD/oz. , high at 1241.92USD/oz, low at 1213.30USD/oz, closing at 1216USD/oz, weekly decline is 12.10USD, declining ratio is 0.98%.
Gold this week volatilized and went downside. After gained 1230 at the beginning of this week, gold kept raising and reached 1238 then started basing around 1232-1239. U.S. September interest rate decision and policy statement raised the tightening expectations, which effected gold dropt from 1239 down to about 1219. At the end of weekly trading time, gold created a new low down to about 1213.
U.S. data announced this week is mixed. August CPI is moderate, yet job market keeps strong. Latest Fed policy statement and raising the interest rate expectation of quarterly economic outlook also made gold drop. Relative to easing prospect of EU, USDX also hit a new record of 84.81, added by the eased international situation, gold suffered from multiple negative factors and dropt sharply. Gold market self correction progressively deepens.:smart:
This week international spot gold opening at 1228.58USD/oz. , high at 1241.92USD/oz, low at 1213.30USD/oz, closing at 1216USD/oz, weekly decline is 12.10USD, declining ratio is 0.98%.
Gold this week volatilized and went downside. After gained 1230 at the beginning of this week, gold kept raising and reached 1238 then started basing around 1232-1239. U.S. September interest rate decision and policy statement raised the tightening expectations, which effected gold dropt from 1239 down to about 1219. At the end of weekly trading time, gold created a new low down to about 1213.
U.S. data announced this week is mixed. August CPI is moderate, yet job market keeps strong. Latest Fed policy statement and raising the interest rate expectation of quarterly economic outlook also made gold drop. Relative to easing prospect of EU, USDX also hit a new record of 84.81, added by the eased international situation, gold suffered from multiple negative factors and dropt sharply. Gold market self correction progressively deepens.:smart:
gold jinyu Sept. 24th gold price trend analysis
International gold price yesterday dropt from a high point, once surged to 1230 then dropt to about 1220 and started basing sideways. Market price fluctuation is getting violent due to the fight between market bearish and bullish. In today’s Asian trading time, gold based at about 1221.
U.S. July monthly HPI was not good as expected while September manufacturing PMI initial value kept expanding, which boost USDX to rebound and press gold to drop. Currently gold daily chart price is still facing a lot of pressure after gained some of its earlier losses. The pressure comes from 1226 and support comes from 1216.
International gold price yesterday dropt from a high point, once surged to 1230 then dropt to about 1220 and started basing sideways. Market price fluctuation is getting violent due to the fight between market bearish and bullish. In today’s Asian trading time, gold based at about 1221.
U.S. July monthly HPI was not good as expected while September manufacturing PMI initial value kept expanding, which boost USDX to rebound and press gold to drop. Currently gold daily chart price is still facing a lot of pressure after gained some of its earlier losses. The pressure comes from 1226 and support comes from 1216.
gold jinyu Sept. 25th gold price trend analysis
International gold price yesterday volatilized and went downside, once surged to 1225 then dropt. Price went all the way down to about 1217 and started basing sideways after broke 1220; in today’s Asian trading time gold kept declining, based at about 1213.
U.S. August new home sales made a big increase and boost USDX breached 85 and hit another new high, which also pressed gold decline again; besides multiple Fed officials made their speeches, their hawkish statements also formed a big pressure against gold. Currently gold daily chart price keeps weak, the support from 1210 is yet to be tested, on the other hand, 1220 will be the main resistant point.:cheesy:
International gold price yesterday volatilized and went downside, once surged to 1225 then dropt. Price went all the way down to about 1217 and started basing sideways after broke 1220; in today’s Asian trading time gold kept declining, based at about 1213.
U.S. August new home sales made a big increase and boost USDX breached 85 and hit another new high, which also pressed gold decline again; besides multiple Fed officials made their speeches, their hawkish statements also formed a big pressure against gold. Currently gold daily chart price keeps weak, the support from 1210 is yet to be tested, on the other hand, 1220 will be the main resistant point.:cheesy:
Vinayak1000
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Gold price seen near tipping point for mine cuts, closures
The price of gold, down more than a third in three years, is approaching the tipping point where the mining industry would see a spike in the number of producers reducing output or even shutting down operations.
Several mines globally have already suspended output in the past 18 months, but not as many as industry watchers expected as producers focused on slashing costs and reworking mine plans to extract more profitable, higher-grade ounces.
Read More: http://uk.reuters.com/article/2014/09/25/us-gold-mining-outlook-idUKKCN0HK0YJ20140925
The price of gold, down more than a third in three years, is approaching the tipping point where the mining industry would see a spike in the number of producers reducing output or even shutting down operations.
Several mines globally have already suspended output in the past 18 months, but not as many as industry watchers expected as producers focused on slashing costs and reworking mine plans to extract more profitable, higher-grade ounces.
Read More: http://uk.reuters.com/article/2014/09/25/us-gold-mining-outlook-idUKKCN0HK0YJ20140925
thanks for contributing.
gold jinyu Sept. 29th gold price trend analysis
International gold price dropt from a high point last trading day, volatilized down to 1213 then rebounded. At the end of U.S. trading time, gold closed at about 1220, which indicates that gold is still weak; gold corrected itself at about 1218 in today’s Asian trading time.
U.S. second quarter GDP final value kept revising up to 4.6%, CCI is also strong, boost USDX to create hit a new record and press gold to make a correction. Currently gold daily chart started a horizontal price movement. MACD signal and value is merging, gold price now is facing the pressure from 1223 and receiving the support from 1213.
International gold price dropt from a high point last trading day, volatilized down to 1213 then rebounded. At the end of U.S. trading time, gold closed at about 1220, which indicates that gold is still weak; gold corrected itself at about 1218 in today’s Asian trading time.
U.S. second quarter GDP final value kept revising up to 4.6%, CCI is also strong, boost USDX to create hit a new record and press gold to make a correction. Currently gold daily chart started a horizontal price movement. MACD signal and value is merging, gold price now is facing the pressure from 1223 and receiving the support from 1213.
If anyone is bullish on Gold then I urge you to please keep getting those buy orders in so that I have more opportunities to take the other side and sell the heck out of it.
I am a technical analyst all day long but even on a fundamental level... Gold has fallen for some time now, despite:
1) The range of geopolitical events that textbooks would normally suggest bullish for Gold (Ukraine, Gaza, Syria, Iraq, now China)...
2) The Indian wedding season when more Gold is bought than you can shake a very large stick at...
Neither of these have managed to reverse the trend in Gold. Every 'rally' is now a sell opportunity for me. Below the 1180 levels, there isn't much support until 1000, and then beyond that is just as scary.
Apologies for coming in on your thread but I just wanted to add a couple of pointers. I'll leave you to it. Good luck.
I am a technical analyst all day long but even on a fundamental level... Gold has fallen for some time now, despite:
1) The range of geopolitical events that textbooks would normally suggest bullish for Gold (Ukraine, Gaza, Syria, Iraq, now China)...
2) The Indian wedding season when more Gold is bought than you can shake a very large stick at...
Neither of these have managed to reverse the trend in Gold. Every 'rally' is now a sell opportunity for me. Below the 1180 levels, there isn't much support until 1000, and then beyond that is just as scary.
Apologies for coming in on your thread but I just wanted to add a couple of pointers. I'll leave you to it. Good luck.
fxmade2trade
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I am with you did I miss something?
Sonicscooter
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I don't trade Gold or Silver but i am curious, does anyone have a medium term price target for both.......:?:
fxmade2trade
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I would say for gold 1300
Sonicscooter
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thanks for contributing.
Oct. 6th gold price trend analysis
International gold price slumped last trading day, broke 1200 during U.S. trading time and went all the way down to 1190, market bearish controls the market, gold keeps weak. Today’s Asian trading time gold hit a new low then rebounded slightly and based around 1187USD/oz.
US Non-farm Payrolls released a few days ago was much better than expected and boost USDX hit a new record(86.75), gold on the other hand received a huge pressure and dropt all the way down to about 1180. The strong non-farm payrolls indicates that U.S. economy is getting better. The approaching of interest rate raising still threatens gold. Currently gold daily chart fall below 1190 and started basing, multiple weak data makes gold harder to rebound. The pressure comes from 1193, support from 1183.
International gold price slumped last trading day, broke 1200 during U.S. trading time and went all the way down to 1190, market bearish controls the market, gold keeps weak. Today’s Asian trading time gold hit a new low then rebounded slightly and based around 1187USD/oz.
US Non-farm Payrolls released a few days ago was much better than expected and boost USDX hit a new record(86.75), gold on the other hand received a huge pressure and dropt all the way down to about 1180. The strong non-farm payrolls indicates that U.S. economy is getting better. The approaching of interest rate raising still threatens gold. Currently gold daily chart fall below 1190 and started basing, multiple weak data makes gold harder to rebound. The pressure comes from 1193, support from 1183.
fxmade2trade
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Don't be fooled by the COMEX BS, Gold is on the rise and the Chinese (largest buyers of gold) market is closed till Wednesday and the SGE holiday was today..... ahhhhh its just the beginning.
http://depthtrade.blogspot.com/
http://depthtrade.blogspot.com/
Silver Spot 2-year Chart (orange line US Dollar index)
Gold Spot 5-year Chart (orange line US Dollar index)
Charts courtesy od www.marketvolume.com
Gold Spot 5-year Chart (orange line US Dollar index)
Charts courtesy od www.marketvolume.com
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