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…
Tag: Gold
Weakness in Dollar Spurred Demand for Commodities
Although the US inventory report triggered selloff in crude oil price to as low as 70.86, decline in USD boosted demand for commodities again in afternoon session. The WTI October contract added…
Crude Remains Supported as IEA Raised Demand Forecasts
Crude oil price remains strong in European morning. The International Energy Agency (IEA) raised its forecast on oil demand, as indicated in the September report. The October contract hovers around 72 as…
OPEC Continues to ‘Wait & See’, Satisfied with Current Price Level
Crude oil price rose to as high as 72.52 Wednesday as driven by advance in stock markets amid the Fed Beige Book showed improved economic conditions. The benchmark contract ended the day…
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…