Gold Rallying On Back of US Dollar Gains

July 21, 2014 8:34 pm GMT+0  in Trading with Other Commodities

The gold price has rallied strongly in recent weeks to hit a high of $1322 per ounce in recent weeks. Renewed demand from Jewellers and producers together with increased global political tensions have caused the yellow metal to rally from lows at $1193. However despite recent gains the metal still remains far from the recent […]

Fed maintains taper momentum; cuts the cord to an unemployment threshold

March 20, 2014 12:22 pm GMT+0  in Forex Fundamentals and News

The FOMC meeting, chaired for the first time by Janet Yellen, announced the third instalment of a $10 billion cut in its monthly bond purchase program, a part of its quantitative easing agenda for bolstering the US economy. The monthly bond purchase target now stands at $55 billion, comprising bond purchases of $ 25 billion […]

Gold drops as Ukraine appears to de-escalate

March 19, 2014 1:35 pm GMT+0  in Trading with Other Commodities

Russia’s annexation of Crimea became a fait accompli once the region voted through a referendum to secede from the Ukraine and become a part of Russia. Putin, pleased with the result, expansively assured Russian Parliament that he has no intentions of taking over other Ukrainian territory, as suggested by speculative rumours. These developments have taken […]

Germany’s Move to Repatriate its Gold Reserves

January 16, 2013 12:55 pm GMT+0  in Euro Zone

German newspapers’ prediction that a move is afoot by the Bundesbank to repatriate at least some of its gold reserves held with the New York Fed and the Bank of France, has come true. The Bundesbank announced today a “new storage plan” that seeks to store half of its gold reserves in its own vaults […]

Gold Technical Update – WC 7th January

January 6, 2013 5:30 pm GMT+0  in Trading with Other Commodities

Gold Technical Update – WC 7th January Gold (XAUUSD) plummeted lower and ultimately moved below the key $1630 per ounce level on Friday morning, this area marked the lowest level found since last August, and a drop of over 3% in just 24 hours. This area held on the daily closing basis, with a subsequent […]

India’s Current Account Deficit a Mounting Cause for Concern

January 3, 2013 6:54 am GMT+0  in India

A rising oil bill, persistent gold imports and falling exports are ganging up to create a rising current account deficit headache for India’s Finance Minister, P Chidambaram. The deficit is now 5.4% of the country’s GDP, as per figures released for the September quarter. One of the measures Chidambaram may take is to make it […]

Gold Technical Analysis – Dec 24th

December 26, 2012 12:02 am GMT+0  in Trading with Other Commodities

Gold Technical Analysis – Dec 24th Gold Technical Analysis The price of gold has found support at a key level comprised of the following technical points of interest:  61.8% Fibonacci retrace, FE100 expansion from a potential ABC correction point and the previous resistance area around $1630 – as highlighted in our previous update. The latest reversal came just above this tight confluence level […]

Is Gold a Currency?

December 8, 2012 11:55 am GMT+0  in Forex Articles

Much has been written and discussed about gold and its nature. Is it a commodity? Is it just a hedge against inflation? Is it a currency? From earliest times, gold has been valued for its lustre, durability and comparative rarity. The value of this metal in the eyes of men established its suitability as a […]

Gold Update WC 12th November

November 11, 2012 7:37 pm GMT+0  in Trading with Other Commodities

Gold Update WC 12th November Gold Technical Analysis – Gold finished the week close to the $1730 per oz mark on Friday, after scaling to highs around $1738.71, a two-week high for the precious metal. A risk aversion tone dominated throug the week with the SPX (S&P 500 index which is often seen as a barometer […]

Gold Update For 9th November

November 9, 2012 11:42 am GMT+0  in Trading with Other Commodities

Gold Update For 9th November Gold is trading higher as a risk aversion theme dominates market sentiment and the so-called U.S. “fiscal cliff” remains a key factor.  Gold is up around 3.5% on the weekly basis. Gold stored in ETP (exchange-traded products) registered around 2,596.106 metric tons, as of yesterday, according to recent data from Bloomberg. […]

Gold Price At Two-Month Low Following NFP

November 3, 2012 11:23 am GMT+0  in Trading with Other Commodities

Gold Price At Two-Month Low Following NFP Gold is at a two-month low as broad based dollar strength was seen on Friday, the precious metal broke through the $1700 level after a stronger than anticipated NFP (US Non Farm Payroll) report.  This was the fourth weekly loss in a row for gold. Gold Technical Analysis studies […]

Gold Tech/Sentiment Update – 25/10/12

October 25, 2012 9:52 pm GMT+0  in Trading with Other Commodities

Gold Tech/Sentiment Update – 25/10/12 Gold has continued its recent downside after finding interim resistance near the nine-month highs.  Gold prices have dropped over 5% during the previous 2 weeks. Recent low gold prices might prove to be attractive for potential new buyers.  India’s Diwali festival approaches with a possible increase in demand for the previous […]