RSS (c) The Financial Times Ltd 2010

  • Positive employment data lift US stocks February 3, 2012
    US stocks hit six-month high on news that unemployment fell to a three-year low in January with banks among the main beneficiaries […]
  • Stocks surge on strong US jobs data February 3, 2012
    Equities and commodities benefit from robust US employment data with the FTSE All-World index at its best levels since start of August […]
  • Volatile banks push Europe higher February 3, 2012
    Rapid gains for Société Générale and Crédit Agricole helped the FTSE Eurofirst rise for the fourth consecutive session on Friday […]

RSS (c) The Financial Times Ltd 2010

  • Stocks surge on strong US jobs data February 3, 2012
    Equities and commodities benefit from robust US employment data with the FTSE All-World index at its best levels since start of August […]
  • Dollar rises as jobs boost dents QE3 speculation February 3, 2012
    The dollar strengthens after US data show a larger than expected rise in employment with investors taking this as a positive signal on the economy […]
  • Riot halts Egypt bourse rally February 3, 2012
    Stock exchange index drops 2.2 per cent following deadly riots, following 28 per cent rise on January. […]

RSS (c) The Financial Times Ltd 2010

Archive for daily gold prices

Spot Gold Price – 8th January 2009

By anna · Comments (0)
Thursday, January 8th, 2009

Despite a weaker US dollar spot gold prices moved sharply lower yesterday closing well below the 14 day moving average. Recently, safe haven buying amid continuing tensions in the Middle East have provided support to daily gold prices but worsening jobs data has shifted focus on the economy threatening the inflation driven gold rally in short term. Among other negative influences for the downward move in the price of gold was a big slump in daily crude oil prices after a bigger than expected inventory build combined with a tumble in stock markets.

The short and long term trends are bullish while medium term trend is bearish.

Support:    $835.20 (yesterday low)                                     Resistance: $885.17 (high of 05/01/09)

Support:    $828.70 (low of 23/12/08)                                   Resistance: $870.50 (high of 06/01/09)

Support:    $819.90 (low of 15/12/08)                                   Resistance: $867.00 (yesterday high)

Comments (0)
Categories : Gold prices
Tags : , , , , , ,

Daily Gold Prices – January 7th 2009

By anna · Comments (0)
Wednesday, January 7th, 2009

Initially daily gold prices declined yesterday hitting their weakest level since Dec 24th, but later on, as the US dollar gave up some of its early strength, the price of gold reversed course managing to close higher for the day. The late rally had the greenback as the main influencing factor with some additional boost coming from continuing tensions between Israel and Hamas leading to more buying of gold as a safe haven. Going forward it’s worth mentioning that the European Central Bank is under pressure to follow the Fed and other central banks in cutting rates more aggressively which could undermine the euro and in turn gold buyers entering the market. The short and long term trends are bullish while medium term trend is bearish.

Support:    $838.55 (yesterday low)                                     Resistance: $900.00 (psychological level)

Support:    $828.70 (low of 23/12/08)                                   Resistance: $885.17 (high of 05/01/09)

Support:    $819.90 (low of 15/12/08)                                   Resistance: $870.50 (yesterday high)

Comments (0)
Categories : Gold prices
Tags : , , , , , , , , , , ,

Daily Gold Prices Fall – 6th January 2009

By anna · Comments (0)
Tuesday, January 6th, 2009

Daily gold prices closed sharply lower yesterday crossing below the 9 and 14 day moving averages. The downward move came in reaction to the currency market with the euro hitting a three week low against the US dollar on perceptions that the European Central Bank is behind the curve in lowering interest rates. Gold is often bought as a hedge against the greenback weakness so conversely sold during times of dollar strength.

The short and long term trends are bullish while medium term trend is bearish.

Support:    $843.45 (yesterday low)                                     Resistance: $908.77 (high of 22/09/08)

Support:    $838.00 (low of 25/12/08)                                   Resistance: $900.00 (psychological level)

Support:    $819.90 (low of 15/12/08)                                   Resistance: $885.17 (yesterday high)

Comments (0)
Categories : Gold prices
Tags : , , , , , , , , ,

Spot Gold Price – January 2nd 2009

By anna · Comments (0)
Friday, January 2nd, 2009

Initially, on the last trading day of 2008 as the US dollar rose we saw gold prices declining, given that the yellow metal is seen as a dollar hedge and so usually trades inversely to the greenback. Later in the session gold prices bounced possibly on bargain hunting and closed higher despite a stronger dollar. It’s worth mentioning that gold has outperformed the commodities sector throughout this financial crisis and is very likely to continue to do so in an environment dominated by political and financial uncertainty. So for the longer term I expect gold prices to move higher. The short and long term trends are bullish while medium term trend is bearish.

Support:    $855.25 (low of 31/12/08)                                   Resistance: $908.77 (high of 22/09/08)

Support:    $847.85 (low of 18/12/08)                                   Resistance: $900.00 (psychological level)

Support:    $842.10 (low of 26/12/08)                                   Resistance: $890.80 (high of 29/12/08)

Comments (0)
Categories : Gold prices
Tags : , , , ,

Gold Prices – December 29th 2008

By anna · Comments (0)
Monday, December 29th, 2008

On Friday gold gained in excess of $23.00 with the price of gold closing above the 9 day moving average. The move was influenced by a slightly weaker US dollar and a modest increase in the stock market although in line with expectations trading volume was probably one of the lightest. A late session increase in daily crude oil prices also helped the yellow metal which investors expect to trade in a thin market for the rest of the year and take its direction from the US currency. The short and long term trends are bullish while medium term trend is bearish.

Support:    $847.85 (low of 18/12/08)                                   Resistance: $922.00 (high of 08/10//08)

Support:    $842.10 (low of 26/12/08)                                   Resistance: $907.75 (high of 30/09/08)

Support:    $834.20 (low of 24/11/08)                                   Resistance: $900.00 (psychological level)

Comments (0)
Categories : Gold prices
Tags : , , , , , , ,

Gold Prices Fall On US Home Sales

By anna · Comments (0)
Wednesday, December 24th, 2008

Gold fell sharply yesterday closing below the 9 day moving average. Home sales reports from US were worse than expected and triggered commodities liquidation which in turn pressured the yellow metal. The downward move was perhaps exacerbated by thin trading conditions ahead of Christmas when it doesn’t take much to move the market in either direction. A continuously weaker oil market seems to undermine gold as well although its next direction in the short term will probably be determined by US currency moves.

The short and long term trends are bullish while medium term trend is bearish.

Support:    $828.70 (yesterday low)                                     Resistance: $878.47 (high of 18/12//08)

Support:    $819.90 (low of 15/12/08)                                   Resistance: $853.80 (high of 19/12/08)

Support:    $809.00 (high of 28/11/08)                                  Resistance: $847.76 (yesterday high)

Comments (0)
Categories : Gold prices
Tags : , , , , , , , ,

Daily Gold Prices – December 22nd 2008

By anna · Comments (0)
Monday, December 22nd, 2008

On Friday gold prices closed down again with the 9 day moving average proving a good resistance level. As I mentioned before, a strengthening US dollar was the main reason for the move in gold prices, with additional pressure coming from profit taking ahead of the weekend and the Christmas holiday. Gold again followed the US dollar closely in the early morning session as a modest strengthening of the Euro against US dollar also pushed the precious metal slightly higher, and it is widely expected this correlation will remain intact for the time being. The short and long term trends are bullish while medium term trend is bearish.

Support:    $829.15 (Friday’s low)                                      Resistance: $900.00 (psychological level)

Support:    $819.90 (low of 15/12/08)                                   Resistance: $878.47 (high of 18/12//08)

Support:    $807.05 (low of 12/12/08)                                   Resistance: $853.80 (Friday’s high)

Comments (0)
Categories : Gold prices
Tags : , , , , , ,

Daily Gold Prices – December 19th 2008

By anna · Comments (0)
Friday, December 19th, 2008

The main driver behind yesterday’s decline in gold prices was a US dollar coming off its recent lows with additional pressure from profit taking ahead of the Christmas holiday. Following massive government spending all over the world, this has sparked fears of long term inflation which in turn revived the physical demand in gold. This should act as a good support but if the dollar does resume the uptrend, at some point that could hurt gold’s rally. The short and long term trends are bullish while medium term trend is bearish.

Support:    $830.60 (9 day moving average)                              Resistance: $900.00 (psychological level)

Support:    $819.90 (low of 15/12/08)                                   Resistance: $891.32 (high of 07/10/08)

Support:    $808.95 (14 day moving average)                             Resistance: $878.47 (yesterday high)

Comments (0)
Categories : Gold prices
Tags : , , , , ,

Gold Prices Continue Higher

By anna · Comments (1)
Thursday, December 18th, 2008

Gold prices closed higher again benefiting from a nose diving US dollar as financial analysts continued to debate the FED rate cut and the implications for longer term and the effect this will have on current monetary policy. As I mentioned before the upward move in the gold is supported not only by continuing weakness in the greenback, but also new buying as a hedge against inflation. With near zero interest rates, massive government spending, talk of quantitative easing on a daily basis and an incoming administration likely to stay on the same path, some traders are starting to suggest that this is just the beginning for a long bull run in gold prices.

The short and long term trends are bullish while medium term trend is bearish.

Support:    $845.90 (yesterday low)                                     Resistance: $900.00 (psychological level)

Support:    $829.40 (low of 16/12/08)                                   Resistance: $891.32 (high of 07/10/08)

Support:    $823.66 (9 day moving average)                              Resistance: $882.50 (yesterday high)

Comments (1)
Categories : Gold prices
Tags : , , , , , , ,

Gold Prices Move Higher In Bullish Market

By anna · Comments (0)
Wednesday, December 17th, 2008

Yesterday’s early session saw a sideways move as traders waited for the Federal Reserve’s interest rate decision although a weaker US dollar acted as good support for gold. The announcement to slash rates to 0% – 0.25% range came as a surprise, above expectations of 50bps cut and put precious metal on a firm rally suggesting that market participants are beginning to look beyond the current environment dominated by deflation, and rather start to price in the long term implications of this policy easing.The short and long term trends are bullish while medium term trend is bearish.

Support:    $829.40 (yesterday low)                                     Resistance: $876.60 (high of 02/10/08)

Support:    $819.90 (low of 15/12/08)                                   Resistance: $869.70 (high of 17/09/08)

Support:    $810.26 (9 day moving average)                              Resistance: $859.42 (yesterday high)

Comments (0)
Categories : Gold prices
Tags : , , ,
Next Page »