{"id":1582,"date":"2009-04-27T12:38:28","date_gmt":"2009-04-27T17:38:28","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=1582"},"modified":"2009-04-27T12:38:28","modified_gmt":"2009-04-27T17:38:28","slug":"gold-daily-commentary-for-42709","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/04\/27\/gold-daily-commentary-for-42709\/","title":{"rendered":"Gold Daily Commentary for 4.27.09"},"content":{"rendered":"<p><span style=\"color: #888888;\">By Fast Brokers<\/span><\/p>\n<p>Gold is weakening Monday despite U.S. equities prepping to open lower.\u00a0 The precious metal is edging below our 3rd tier uptrend line, and a breather from recent gains isn\u2019t too surprising.\u00a0 Gold seems to be making a commitment to $900\/oz+, a key development fundamentally.\u00a0\u00a0 The precious metal is still finding strength in the knowledge that China is diversifying more of its reserves towards gold.\u00a0 Furthermore, gold is thriving in the fact that the S&amp;P futures have been unable to break out of their own key fundamentals.\u00a0 However, one cause for concern for gold is the fact that CPI data continues to trend downwards worldwide, reigniting the fear of deflation.\u00a0 Deflation wrapped its hands around gold during the height of the economic crisis, dragging down the precious metal with equities.\u00a0 Hence, it is reasonable to stay cautions on a medium-term trend basis.\u00a0 That being said, we have some very interesting, longer-term trend lines playing key roles in our analysis.\u00a0 If gold were to climb above our 3rd tier downtrend line, we could see the precious metal explode to the upside.\u00a0 Then again, we must take note of the downtrend, and the fact that the recent progress made can be wiped away.\u00a0 Gold is trading above our 3rd tier uptrend line and the ball is in the uptrend\u2019s court until further notice.<\/p>\n<p>Fundamentally we find resistances of $913.47\/oz, $916.16\/oz, $919.54\/oz, $922.69\/oz, and $925.04\/oz.\u00a0 To the downside, we see supports of $910.88, $908.86\/oz, $905.94\/oz, $903.83\/oz, and $901.41\/oz. Gold is currently trading at $912.15\/oz.<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/4_27gold.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/4_27gold.gif\" alt=\"\" width=\"595\" height=\"500\" \/><\/a><\/p>\n<p><em><strong>Market Commentary<\/strong><\/em> provided by <a href=\"http:\/\/www.fastbrokers.com\/index.php?PL080\" target=\"_blank\"><span style=\"text-decoration: underline;\"><strong>Fast Brokers<\/strong><\/span><\/a>.<\/p>\n<p><strong>Disclaimer:<\/strong> FastBrokers\u2019 market commentary is provided for information purposes only and under no circumstances should be regardedneither 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 weakening Monday despite U.S. equities prepping to open lower.  The precious metal is edging below our 3rd tier&#8230;<\/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-1582","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1582","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=1582"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1582\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=1582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=1582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=1582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}