Gold price analysis

 
 
 
 
Atilla said:
What is the reason for this oil effect on gold? Is it not due to other factors like strength of dollar?
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well, strong dollar and the relationship between the eagle and the bear all effect oil and gold, besides oil price itself is one reason why gold drops. :)
and thanks for contributing.
 
goldhj said:
well, strong dollar and the relationship between the eagle and the bear all effect oil and gold, besides oil price itself is one reason why gold drops. :)
and thanks for contributing.
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Still not clear. I appreciate the relationships but not sure what the effect of oil falling on gold is. I thought I may be missing something. :rolleyes: :whistling
 
Atilla said:
Still not clear. I appreciate the relationships but not sure what the effect of oil falling on gold is. I thought I may be missing something. :rolleyes: :whistling
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you got me, but when oil drops, it drops with gold price, guess that means something.:confused:
 
goldhj said:
you got me, but when oil drops, it drops with gold price, guess that means something.:confused:
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Nearest I can come to it is oil being cost of input - contributing to deflation and falling prices. I would guess there is a time time lag in the transmission mechanism and level of correlation it has, as a leading indicator to be less than strengthening dollar. :rolleyes:
 
gold jinyu Nov. 5th precious metal (gold) price trend analysis

International gold price rebounded slightly, once dropt to about 1164 then raised a little. in Europe trading time gold dropt from 1170 and started correcting in U.S. trading time.
U.S. September trade balance is not as good as expected which dragged USDX down. While September factory orders and durable goods orders keeps getting better and that stabilized USDX in a high level. Gold’s failure rebounding indicates that it’s still weak. Currently the situation of weak gold is not changed, MACD green bar is smooth, bearish is controlling the market, trading short during intraday trading would be better choice.
:whistling
 
gold jinyu Nov. 6th precious metal (gold) price trend analysis

International gold price yesterday broke the support line and went downside, all the way down to about 1140 after broke 1160, bear market keeps gold weak. In today’s Asia trading time, gold basing around 1143.

U.S. October ADP employment is better than expected, boost USDX in a high level, yet the October ISM non-manufacturing PMI is not that good, which blocked USDX keeping going up. under this situation, gold started fluctuating, yet not strong enough to rebound. Currently gold daily chart price is still not stabilized after this slump. MACD is weak which made gold’s rebound unfavorable. Short would be a wise choice.
:)
 
goldhj said:
it might not go down that far.
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Expect 1140 to be strong support yes but I do like a good bargain. :)

We need to test conviction of the gold bulls.

Clear the air from hope and faith.
 
DaBomb said:
LOL....ffsear is such a loser!

Follow TriXx on Twitter: https://twitter.com/TriXxTrader
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You should follow that thread as I have looked into it too.

TriXx is the dogs ******** on making those great calls. Never seen anything like it. (y) Top dog indeed.


As for ffsear is a top geezer too.

Other than spamming - what have you got to offer then??? :sleep:
 
 
goldhj said:

International gold price dropt from 1149 last trading day, rebounded from 1138 later, but blocked by 1148 and went downside again. At the end of U.S. trading time gold corrected around 1143, in today’s Asia trading time gold keeps weak, basing around 1141.
ECB interest rate decision keeps unchanged. Yet Draghi’s speech pressed Euro. Initial jobless claim appears good made USDX create a new high, gold on the other hand, dropt. The incoming US Non-farm Payrolls will effect gold significantly, currently market is still bear, daily chart is not stabilized yet, whether downside 1130 support can be tested is not clear, short positions seems to be the right choice.
:cheesy:
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1130s tested and we've had a little bounce.

I suspect 1140 will become pivot point for a while.

To state the obvious - in the absence of any sudden shocking events - 1130-1150 range bound imo. :whistling
 
Atilla said:
1130s tested and we've had a little bounce.

I suspect 1140 will become pivot point for a while.

To state the obvious - in the absence of any sudden shocking events - 1130-1150 range bound imo. :whistling
Click to expand...

that took long to be proven wrong lol
 
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