{"id":6396,"date":"2010-01-29T13:59:00","date_gmt":"2010-01-29T18:59:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=6396"},"modified":"2010-01-29T13:59:00","modified_gmt":"2010-01-29T18:59:00","slug":"gold-fluctuates-as-investors-decipher-data","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/01\/29\/gold-fluctuates-as-investors-decipher-data\/","title":{"rendered":"Gold Fluctuates as Investors Decipher Data"},"content":{"rendered":"

By Fast Brokers<\/strong> – Gold is fluctuating wildly today as investors react to the stronger than expected U.S. data set.\u00a0 U.S. GDP, Chicago PMI, and UoM Consumer Sentiment data all printed stronger than analyst expectations.\u00a0 While investors have reacted by buying up the Dollar and selling gold, the precious metal has been all over the place on the 1-hour and it seems investors are debating exactly how to play today\u2019s development.\u00a0 The outperformance in U.S. economic data has led investors to favor the Dollar as a safe haven amidst global economic uncertainty, a negative for gold considering correlative forces.\u00a0 On the other hand, a boost in U.S. economic activity could also prove to be a positive development for the risk trade.\u00a0 Hence the wild fluctuations in gold so far this session.\u00a0 That being said, it seems the downside is winning the battle thus far, though we will have to wait and see how the session plays out.\u00a0 Meanwhile, investors should keep an eye on the major Dollar pairs should there be another considerable technical move.<\/p>\n

Technically speaking, gold has our 1st tier uptrend line serving as a technical cushion along with January lows should they be tested.\u00a0 Our present uptrend lines run through August 2008 levels, highlighting the significance of the moment.\u00a0 As for the topside, gold faces a few steep downtrend lines along with the highly psychological $1100\/oz level.\u00a0 Furthermore, intraday and 1\/26 highs could serve as technical barriers should they be reached.<\/p>\n

Present Price: $1078.05\/oz<\/p>\n

Resistances: $1078.92\/oz, $1085.32, oz, $1090.07\/oz, $1093.32\/oz, $1096.91\/oz, $1101.00\/oz<\/p>\n

Supports: $1074.44\/oz, $1070.65\/oz, $1063.28\/oz, $1058.74\/oz, $1054.86\/oz, $1050.12\/oz<\/p>\n

Psychological: $1075\/oz, $1100\/oz, January lows<\/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 is fluctuating wildly today as investors react to the stronger than expected U.S. data set.\u00a0 U.S. GDP, Chicago PMI, and UoM Consumer Sentiment data all printed stronger than analyst expectations.\u00a0 While investors have reacted by buying up the Dollar and selling gold, the precious metal has been all over the … <\/p>\n

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