For the earlier part of this week and previous week, the bourses suffered another bearish continuations with some markets hitting multi year lows. Commodities and gold were equally not spared. Despite being viewed as safe haven, Gold suffered one of there worst decline in a week due to a combination of these factors: 1) Strengthening USD against major currencies 2)…
Tag: Gold
US Debt Ceiling saga clouded upside potential of markets | Gold & USD Index Technical Analysis | US Stock Markets
Around the world, across different markets, investors have reacted in great anxiety anxiety especially to the ongoing gridlock between the White House and Republican lawmakers over a path toward raising the government’s debt limit and avoiding a potential default. A deal on the debt limit is needed for the government to avoid running out of funds to pay its bills…
Silver prices tumbled heavily for the first time in months with curb in speculations | Technical Analysis | Commodities Market
In the midst of Osama Bin Laden’s death, there were strong market reactions on Monday. It would seem that the 13% plunge of Silver on Monday trading to $42.20 an ounce earlier was the effect of the news. Sadly, this is only the partial trigger. Monday was the first full session after the increase in margin requirements. Initial margin requirements…
Gold prices soar with the weakening of USD | Technical Analysis | Commodities
As we see the USD index depreciating to 3 years low against other major currency, it is no surprise that USD pegged commodities saw significant uptrend. Of greater interest is Gold. Earlier in the month when I last posted my analysis when Gold started to forma consolidating wedge with resistance around $1440, there were signs of bearish divergences in RSI,…
Technical Analysis of Crude Oil, Gold | Commodity Prices | CBOT, CME, NYBOT
Political & economic situations should see some light of stability in coming week. Apart from movements in global stock markets, futures market should see further price swings. More importantly, there will be important US economic data to be released this coming week: – Jobless Claims (Thurs)– GDP, Consumer Sentiment (Fri) CRUDE OIL Crude oil has breakout of $93 and since…
Gold / Light Crude Oil – Further strength amidst uncertainty in Egypt – Commodities
Unrest in North Africa (Libya) and the Middle East (Egypt) has sent uncertainties in investors prompting them to look once again in safe haven via commodities – Gold & Oil. Particularly for Gold, with the formation of bullish piercing reversal formation during early Feb 2011, the prices have reversed from the lows of US$1300 to now $1380+. It is poised…
Gold to test recent highs with weakness in USD
See and download the full gallery on posterous With China raising interest rates, it is no one’s surprise that USD will be under some pressures. USD index to test lower brollinger band while gold to retest recent highs. Gold may hit $1500 once the triple top is breached. Follow us on: Share this article on: