{"id":4194,"date":"2009-10-06T15:24:27","date_gmt":"2009-10-06T20:24:27","guid":{"rendered":"http:\/\/countingpips.com\/fx\/2009\/10\/06\/gold-sprints-to-new-all-time-highs\/"},"modified":"2009-10-06T15:24:27","modified_gmt":"2009-10-06T20:24:27","slug":"gold-sprints-to-new-all-time-highs","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/10\/06\/gold-sprints-to-new-all-time-highs\/","title":{"rendered":"Gold Sprints to New All-Time Highs"},"content":{"rendered":"

By Fast Brokers<\/strong> – Gold has bolted to new all-time highs after the RBA unexpectedly raised its benchmark rate by 25 basis points.\u00a0 The RBA\u2019s decision has resulted in a broad-based depreciation of the Dollar, particularly against the Aussie and Kiwi.\u00a0 The concept of the RBA beginning its exit-strategy has sent a shock throughout the FX market, allowing gold to break free of its month long consolidation.\u00a0 Gold blew past all of our downtrend lines, the psychological $1000\/oz level and previous all-time highs.\u00a0 This is clearly a bullish movement for gold in regards to the precious metal\u2019s longer-term outlook.\u00a0 Despite the broad-based depreciation of the Dollar coupled with a breakout in gold the EUR\/USD and GBP\/USD aren\u2019t participating fully.\u00a0 Investors are waiting for the ECB and BoE meetings on Thursday.\u00a0 Since gold has been closely correlated with the EUR\/USD, the currency pair\u2019s reluctance of to break out of its own September highs could temper further gains in gold over the near-term.\u00a0 However, full participation by the EUR\/USD would only accelerate gold\u2019s present upward momentum.\u00a0 Gold\u2019s current movements are so decisive that it\u2019s irresponsible to place any resistances and supports on gold\u2019s chart until the precious metal calms and forms a new base.\u00a0 However, the psychological 1050 level could carry some weight should it be tested.\u00a0\u00a0 Meanwhile, investors should keep a close eye on the broad-based performance of the Dollar since it is more responsible for gold\u2019s movements than U.S. equities.<\/p>\n

Present Price: $1039.20\/oz<\/p>\n

Resistances: $1050\/oz<\/p>\n

Supports:<\/p>\n

Psychological: $1050\/oz<\/p>\n

\"\"<\/a><\/p>\n

Market Commentary<\/strong><\/em> provided by Fast Brokers<\/strong><\/span><\/span>.<\/a><\/p>\n

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

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":"

By Fast Brokers – Gold has bolted to new all-time highs after the RBA unexpectedly raised its benchmark rate by 25 basis points.\u00a0 The RBA\u2019s decision has resulted in a broad-based depreciation of the Dollar, particularly against the Aussie and Kiwi.\u00a0 The concept of the RBA beginning its exit-strategy has sent a shock throughout the … <\/p>\n

Continue reading “Gold Sprints to New All-Time Highs”<\/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-4194","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/4194","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=4194"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/4194\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=4194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=4194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=4194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}