{"id":5511,"date":"2009-12-24T09:37:10","date_gmt":"2009-12-24T14:37:10","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=5511"},"modified":"2009-12-24T09:37:10","modified_gmt":"2009-12-24T14:37:10","slug":"gold-climbs-past-1100oz","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/12\/24\/gold-climbs-past-1100oz\/","title":{"rendered":"Gold Climbs Past $1100\/oz"},"content":{"rendered":"

By Fast Brokers<\/strong> – Gold has popped back above the highly psychological $1100\/oz level, which could turn out to be a hard fought battle since the area does carry some extra psychological weight.\u00a0 Gold is finding its strength in Dollar weakness as we witness pops and consolidation in the EUR\/USD, AUD\/USD, and GBP\/USD.\u00a0 The Greenback is pulling back across the board in reaction to yesterday\u2019s disappointing U.S. data set, particularly the dip in New Home Sales.\u00a0 FX investors will get another dose of data today in the form of weekly Unemployment Claims and Durable Goods Orders.\u00a0 Should today\u2019s data set reflect yesterday\u2019s weakness the Dollar could experience further selling pressure as investors lock in profits ahead of Christmas, a positive catalyst for gold.\u00a0 That being said, activity should wind down as the session progresses with investors checking out for the holiday.\u00a0 Hence, gold could continue to float within striking difference of $1100\/oz as investors close of shop for next week, which will also be shortened by the New Year holiday.<\/p>\n

Technically speaking, gold has multiple uptrend lines serving as technical cushions along with 12\/18 and 12\/23 lows.\u00a0 As for the topside, gold faces technical barriers in the form of 12\/21,12\/15, and 12\/7 highs along with the psychological $1150\/oz level.<\/p>\n

Present Price: $1102.25\/oz<\/p>\n

Resistances: $1105.05\/oz, $1110.77\/oz, $1115.27\/oz, $1118.69\/oz, $1123.03\/oz, $1128.35\/oz<\/p>\n

Supports: $1100.58\/oz, $1094.14\/oz, $1088.30\/oz, $1082.58\/oz, $1079.61\/oz, $1074.42\/oz<\/p>\n

Psychological: $1100\/oz, $1075\/oz, $1150\/oz<\/p>\n

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

Market Commentary<\/strong><\/em> provided by Fast Brokers<\/strong>.<\/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 popped back above the highly psychological $1100\/oz level, which could turn out to be a hard fought battle since the area does carry some extra psychological weight.\u00a0 Gold is finding its strength in Dollar weakness as we witness pops and consolidation in the EUR\/USD, AUD\/USD, and GBP\/USD.\u00a0 The Greenback … <\/p>\n

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