{"id":5064,"date":"2009-12-02T12:07:39","date_gmt":"2009-12-02T17:07:39","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=5064"},"modified":"2009-12-02T12:07:39","modified_gmt":"2009-12-02T17:07:39","slug":"gold-pops-past-1200oz","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/12\/02\/gold-pops-past-1200oz\/","title":{"rendered":"Gold Pops Past $1200\/oz"},"content":{"rendered":"

By Fast Brokers<\/strong> – Gold\u2019s incredible uptrend appears alive and well after the precious metal popped passed $1200\/oz with relative ease.\u00a0 Gold continues to knock down barriers as investors and governments look to divest from the Dollar.\u00a0 Yesterday\u2019s positive manufacturing data from China combined with the RBA\u2019s 25 basis point increase was enough to signal that the rally of emerging economies is continuing.\u00a0 Hence, investors were confident enough to send gold past $1200\/oz while delivering another round of Dollar weakness in succession with a rally in emerging equities.\u00a0 Meanwhile, investors are eagerly awaiting tomorrow\u2019s ECB monetary policy meeting along with key econ releases from the U.S. and UK.\u00a0 Therefore, investors should keep an eye on activity in the Dollar over the next 24-48 hours.\u00a0 Should U.S. and UK data print positively and the ECB deliver a more hawkish monetary policy stance we may witness another wave of Dollar weakness, thereby sending gold higher due to its negative correlation with the Greenback.\u00a0 On the other hand, a retracement towards $1200\/oz wouldn\u2019t be surprising since we witnessed similar at $1100\/oz and $1000\/oz.<\/p>\n

Technically speaking, gold has multiple uptrend lines serving as technical cushions in addition to 11\/30 and 11\/24 lows.\u00a0 Furthermore, the psychological $1200\/oz and $1175\/oz levels serve as supports should they be tested.\u00a0 As for the topside, we\u2019re still unable to initiate a reliable downtrend line due to the lack of historical data.\u00a0 Therefore, the psychological $1200\/oz level and intraday highs serve as the only technical barriers for the time being.<\/p>\n

Present Price: $1210.05\/oz<\/p>\n

Resistances: $1214.05\/oz, $1216.37\/oz<\/p>\n

Supports: $1206.24\/oz, $1202.74\/oz, $1198.87\/oz, $1194.17\/oz, $1189.65\/oz, $1183.65\/oz<\/p>\n

Psychological: $1200\/oz, $1175\/oz, 2009 Highs<\/p>\n

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

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

Disclaimer:<\/strong> <\/span>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> <\/span>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\u2019s incredible uptrend appears alive and well after the precious metal popped passed $1200\/oz with relative ease.\u00a0 Gold continues to knock down barriers as investors and governments look to divest from the Dollar.\u00a0 Yesterday\u2019s positive manufacturing data from China combined with the RBA\u2019s 25 basis point increase was enough to signal … <\/p>\n

Continue reading “Gold Pops Past $1200\/oz”<\/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-5064","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5064","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=5064"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5064\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=5064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=5064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=5064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}