Comex Gold (GC) Gold’s rally extended further to as high as 1013.7 last week, and took out 1007.7 resistance as expected. Short term outlook will remain bullish as long as 983.2 support…
Category: Gold
Weekly Fundamental Outlook for Energies and Metals – Consolidation in Crude Oil will Continue in Coming Months
Commodity prices rose modestly last week amid weakness in USD. Reuters/Jefferies CRB Index added +1.4% while USD Index plunged almost -2% to 76.6, the lowest close in a year. Commodities normally trade…
Gold Daily Technical Outlook
Comex Gold (GC) Gold retreat was contained at 983.2 by 4 hours 55 EMA and rebounded strongly. Break of 998.7 minor resistance flips intraday bias back to the upside. Further break of…
Gold Daily Technical Outlook
Comex Gold (GC) A short term top is in place in gold at 1009.7 after hitting 1007.7 resistance. Pull back from there is still in progress and touches 4 hours 55 EMA…
Gold Daily Technical Outlook
Comex Gold (GC) Gold retreats mildly after hitting 1009.7 and break of 995.9 minor support suggests that an intraday top is in place after hitting 1007.7 resistance. Intraday bias is turned neutral…
Gold Reaches $1000!
Gold futures for December delivery touches 1000, the highest level since February. Spot gold also rises to 6-month high at 997.2. However, investors should beware that volume is thin and pullback may…
Gold Daily Technical Outlook
Comex Gold (GC) Gold’s rally extends further to as high as 1009.4 so far today and break of 1007.7 resistance confirms that rise from 681 has resumed for next target of 1033.9…
Has Gold’s Long-term Uptrend Resumed?
Gold’s rally accelerates after breaching 1000. The December contract surges to as high as 1009.4, the highest level since March 2008. A close above 1000 should provide more evidence that the long-term…
Gold Daily Technical Outlook
Comex Gold (GC) Gold stays in tight range below 1000 psychological level today and upside momentum is diminishing a bit with 4 hours MACD crossed below signal line. Nevertheless, intraday bias remains…
Narrow Trading Across The Board. CFTC Commitments Of Traders Saw Significant Decline In Crude Net Longs
Commodity prices trade narrowly Monday due to Labor Day holiday in the US. Crude oil price edges slightly higher to 68.12 from Friday’s close of 68.02. This week’s focus is on OPEC’s…