{"id":10482,"date":"2010-06-23T10:30:43","date_gmt":"2010-06-23T14:30:43","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=10482"},"modified":"2010-06-23T10:30:43","modified_gmt":"2010-06-23T14:30:43","slug":"gold-trends-higher","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/06\/23\/gold-trends-higher\/","title":{"rendered":"Gold Trends Higher"},"content":{"rendered":"<p><strong>By Fast Brokers <\/strong>&#8211; Gold is trending higher as the dollar weakens and the risk trade hangs onto its near-term uptrend.\u00a0 Speaking of uptrends, gold is still locked into its consistent uptrend despite Monday\u2019s brisk selloff.\u00a0 As we continue to point out the gold not only serves as a safe haven but also exhibits a negative correlation with the dollar.\u00a0 Therefore, it\u2019s difficult to be negative on gold so long as troubling psychological headwinds circle global markets.\u00a0 Meanwhile, the news wires will heat up later today as the BoE releases its monetary policy meeting minutes followed by a monetary policy decision from the Fed.\u00a0 Even though it\u2019s unlikely either central bank will deviate from their previous stances, statements from central bankers have the ability to stir investors and inject volatility.\u00a0 Hence, it will be interesting to see how gold and major dollar pairs react as the trading session progresses.<\/p>\n<p>Technically speaking, gold has multiple uptrend lines at work as the precious metal eyes its highly psychological $1250\/oz level once more.\u00a0 Additionally, gold faces technical barriers in the form of 6\/8 and 6\/21 highs.<\/p>\n<p>Present Price: $1241.50\/ oz<br \/>\nResistances:\u00a0 $1241.91\/oz, $1244.40\/oz, $1248\/oz, $1251.55\/oz, $2155.12\/oz, $1260.06\/oz<br \/>\nSupports:\u00a0 $1237.38\/oz, $1235.75\/oz, $1233.98\/oz, $1231.35\/oz, $1229.56\/oz, $1227.63\/oz<br \/>\nPsychological: $1250\/oz, June highs<\/p>\n<p><a href=\"http:\/\/www.fastbrokers.com\/commentary\/image\/June23Gold.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.fastbrokers.com\/commentary\/image\/June23Gold.png\" alt=\"\" width=\"595\" height=\"400\" \/><\/a><\/p>\n<p>(click chart to enlarge)<\/p>\n<p><em><strong>Market Commentary<\/strong><\/em> provided by <strong><a href=\"http:\/\/fastbrokers.com\/index.php?9f9043f9\" target=\"_blank\">Fast                                         Brokers.<\/a><\/strong><\/p>\n<p><strong>Disclaimer:<\/strong> FastBrokers\u2019 market commentary is                                         provided for information purposes only    and       under    no               circumstances        should           be    regarded     neither   as  an       investment        advice  nor   as a               solicitation     or      an    offer     to  sell\/buy       any           financial  product.          FastBrokers      assumes        no                 responsibility   or  liability     from  gains   or            losses         incurred by      the             information   herein         contained.<\/p>\n<p><strong>Risk Disclosure:<\/strong> There is a substantial risk of loss                                         in trading futures and foreign         exchange.        Please           carefully        review     all             risk   disclosure      documents    before        opening an        account         as   these           financial       instruments   are      not         appropriate      for all          investors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Fast Brokers &#8211; Gold is trending higher as the dollar weakens and the risk trade hangs onto its near-term uptrend.\u00a0 Speaking of uptrends, gold is still locked into its consistent uptrend despite Monday\u2019s brisk selloff.\u00a0 As we continue to point out the gold not only serves as a safe haven but also exhibits a &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/06\/23\/gold-trends-higher\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gold Trends Higher&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-10482","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10482","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=10482"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10482\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=10482"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=10482"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=10482"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}