{"id":3116,"date":"2009-07-28T13:00:08","date_gmt":"2009-07-28T18:00:08","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=3116"},"modified":"2009-07-28T13:00:08","modified_gmt":"2009-07-28T18:00:08","slug":"gold-logs-huge-losses","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/07\/28\/gold-logs-huge-losses\/","title":{"rendered":"Gold Logs Huge Losses"},"content":{"rendered":"<p><strong>By Fast Brokers<\/strong> &#8211; Gold is experiencing a huge selloff today and we currently can\u2019t find any reasonable explanation.\u00a0 Gold has crashed below all off our uptrend lines, leaving the comforts of its strong trading base behind.\u00a0 While the Dollar is appreciating across the board and the S&amp;P futures are sinking, all over movements are not nearly as protracted as gold\u2019s.\u00a0 Is gold sending a message of a large, pending pullback in U.S. equities and rapid appreciation of the Dollar, or are we just witnessing institutional\/governmental trading?\u00a0 We believe gold\u2019s large pullback today could either be the result of investor anxiety in the wake of CFTC meetings on curbing commodity trading, or a governmental shift of reserves.\u00a0 Most interestingly, gold has not experienced a large spike in activity as one would expect with such a huge movement.\u00a0 Gold may cut its losses around $935\/oz since the bottom of the 7\/15-7\/20 range should provide some immediate-term support.\u00a0 Regardless, this is an eye-opening move and we will keep our eyes on the headlines for any evidence as to why the precious metal is tanking.<\/p>\n<p>Present Price: $934.90\/oz<\/p>\n<p>Resistances: $936.79\/oz, $938.49\/oz, $940.54\/oz, $942.58\/oz, $945.82\/oz<\/p>\n<p>Supports: $934.23\/oz, $932.70\/oz, $931.33\/oz, $929.63\/oz, $927.76\/oz<\/p>\n<p>Psychological: $950\/oz<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/july28gold.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/july28gold.gif\" alt=\"\" width=\"595\" height=\"504\" \/><\/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 experiencing a huge selloff today and we currently can\u2019t find any reasonable explanation.\u00a0 Gold has crashed below all off our uptrend lines, leaving the comforts of its strong trading base behind.\u00a0 While the Dollar is appreciating across the board and the S&amp;P futures are sinking, all over movements are &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2009\/07\/28\/gold-logs-huge-losses\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gold Logs Huge Losses&#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-3116","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/3116","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=3116"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/3116\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=3116"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=3116"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=3116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}