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Thread: Gold Fundamental Analysis

  1. #1
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    Gold Fundamental Analysis

    Hi

    This topic for Daily Gold Fundamental Analysis

    April 10, 2012
    Gold traded higher Monday, catching some safe-haven flows after a soft U.S. jobs report Friday, which also stirred expectations for new rounds of policy easing. Gold rose $15.50, or 1%, at $1,645.70 per ounce on the Comex. Gold gained 1% on Thursday.
    The April 2 high of 1683 has established a lower high on the charts and the April 4th low of 1612 is a lower low. After a month of sideways consolidation, the bears have won the battle. The next big support level will be pivotal. The long term uptrend off the 2008 low comes in just under 1600 and is likely to be tested in the short term. A breach of the uptrend will open up 1522, the December 2011 low.

  2. #2
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    Re: Gold Fundamental Analysis

    Gold turned upwards towards the end of the day, as investors began to move away from risk and back to safe haven assets. The equities markets fell today, along with crude oil. The USD traded stronger against most of its partners, except the yen. Investors pushed gold up to 17.05 to trade at 1660.95.

    Worries over Spain and Italy, and the strength of the EU firewall, began to push investors to safety.

    Yields on Spanish and Italian government bond yields continued to rise on Tuesday as financial markets in Europe reopened after a four-day Easter break. Yields on 10-year Spanish government bonds jumped 9 basis points to 5.83%

    With today’s upwards movement, we could see gold trade up to $1,680 to $1,685 pegged as the next level of technical resistance.

  3. #3
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    Re: Gold Fundamental Analysis

    Rabu, 11 April, 2012,
    Commodity News Emas

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    Hingga penutupan perdagangan SESI New York, harga Emas untuk Metropolitan Land Afiliasi PENGIRIMAN Bulan Juni Naik sebesar $ 16,80 berakhir di harga $ 1,660.70 per ons di bursa Comex - New York Mercantile Exchange.

    Diawal perdagangan, harga Emas Sempat jatuh hingga $ 1,632.50 per Ke ons.

  4. #4
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    Re: Gold Fundamental Analysis

    Gold was down 0.1 percent on the day at $1,659.00 an ounce
    Gold steadied on Wednesday, after rising for four days straight, as the intensifying euro zone debt crisis threatened to undermine the euro and offset any potential safe-haven demand for the metal.
    The euro rose on Wednesday but has come under pressure in the past week as the debt crisis has reignited. The focus is now on Spain, where the head of the central bank said on Tuesday commercial banks would need more capital if the economy continues to deteriorate.

  5. #5
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    Re: Gold Fundamental Analysis

    Gold is trading at 1671.95 up over 11.00. Gold was pushed up by a disappointing unemployment report in the US. But is not expected to remain strong during the balance of today’s trading
    Gold dropped for the first time in four sessions yesterday as U.S. equities halted the longest slump of the year, eroding demand for the precious metal as a haven. The Standard & Poor’s 500 Index of shares advanced as much as 1.2 percent, ending a five-session slide, as Alcoa Inc. opened the earnings season with an unexpected profit. Gold prices jumped 2.9 percent in the previous three sessions. Gold declined 40 cents to settle at $1,660.30 an ounce at have gained 6 percent in 2012 after advancing for 11 consecutive years. Holdings in bullion-backed exchange-traded products slipped 1.1 metric tons to 2,396.4 tons yesterday. EFT’s rose to a record 2,410.2 tons on March 13, data compiled by Bloomberg show.

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    Re: Gold Fundamental Analysis

    Gold and US dollar are inversely related . when usd falls gold rises and when usd rises gold falls. we should note down this fact to benefit from it .

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    Re: Gold Fundamental Analysis

    Gold held pretty much even today, trading at 1650.15 which is a drop of 10.05 from the closing on Friday. The shiny metal dropped in electronic trading over the weekend and was just about at 1648. when markets opened today.

    Gold declined for a second day, dropping with equities and other commodities, as renewed concern that Europe’s debt crisis is worsening boosted the dollar. Spot gold lost as much as 0.5 percent to a one-week low of $1,649.32 an ounce, and traded at $1,651.93 at 9:59 a.m. in Singapore. Bullion lost 1.1 percent on April 13 as the dollar rallied 0.8 percent against a six-currency basket after data showed China’s economy grew at the slowest pace in 11 quarters. The euro declined to a one-month low against the dollar today, while Asian stocks extended a global rout and copper tumbled as the cost of protecting Spain’s debt from nonpayment climbed to a record. China on April 14 announced a doubling of the yuan’s trading band, the first such move since 2007.

    China widening the yuan’s trading band won’t have much effect as gold is denominated in U.S. dollars, and that’s what’s going to drive it in the near term. Gold lost as much as 0.6 percent to $1,650.20 an ounce on the Comex.

    Spot gold of 99.99 percent purity slumped 1.3 percent to 336.51 yuan a gram ($1,660.74 an ounce) on the Shanghai Gold Exchange. European officials meet in Washington this week seeking a bigger war chest to combat the debt crisis.

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    Re: Gold Fundamental Analysis

    The Spain auction has eased the fear about EU situation, giving room for investors risk appetite (SPX opened at +0.74, weighing on Gold (-0.60.

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    Re: Gold Fundamental Analysis

    Gold has climbed today to 1653.45 moving up slightly by 3.45 as the USD dropped on negative home builder’s data and industrial production reports.

    Industrial production was unchanged for the second month running in March, the Federal Reserve said Tuesday. Economists polled by MarketWatch had forecast a 0.3% gain. While utilities output gained 1.5%, manufacturing output slipped 0.2%

    Although U.S. builders start work on new homes at a sharply slower March pace, construction permits jump to their highest level in 3 1/2 years, data showed. Builders began construction on new U.S. homes at a slower pace in March, but permits jumped to the highest level since September 2008, the Commerce Department reported Tuesday. Housing starts fell 5.8% last month to an annual rate of 654,000.

    It closed at its lowest level in a week on Monday after investors sidestepped gold and instead sought out the U.S. dollar as a haven against euro-zone debt concerns.

    Gold struggled for direction as investors weighed the news from Europe but sensed that concerns remained.

    A successful bond auction in Spain and data showing German investor confidence rising for the fifth month in a row added to hopes the euro zone is on the mend.

  10. #10
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    Re: Gold Fundamental Analysis

    Gold is still searching for a direction. It is currently trading at 1649.75 up 10.15 but the shiny commodity has remained hugging the 1650.00 price level all week. Earlier in the day as traders speculated on the Spanish bond auction, gold moved as investors took preparatory positions, but this was a non event and gold moved back to where it was earlier in the days trading.

    US eco numbers were disappointing today but not enough to push gold up the ladder.

    The number of Americans who filed requests for jobless benefits totaled 386,000 last week, keeping claims at a four-month high, the U.S. Labor Department said Thursday. Claims from two weeks ago were revised up to 388,000 from an initial reading of 380,000. Economists had projected claims would drop to a seasonally adjusted 374,000 in the week ended April 14, so the number is likely to disappoint investors. The average of new claims over the past four weeks, meanwhile, rose by 5,500 to 374,750, the highest level since late January. Continuing claims increased by 26,000 to a seasonally adjusted 3.3 million in the week ended April 7, the Labor Department said.

    Sales of existing homes fell 2.6% in March, the second monthly drop though the sales pace in the first quarter was the best in five years, according to data released Thursday. The National Association of Realtors said.

    A gradual improvement in U.S. economic growth is expected past the summer, the Conference Board said Thursday as it reported that its index of leading economic indicators increased 0.3% in March, led by the interest rate spread.

    Manufacturing activity in the Philadelphia region grew at a slower pace in April, the Philadelphia Federal Reserve reported Thursday. The bank’s business condition index fell to 8.5 from 12.5 in March.

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