{"id":8178,"date":"2010-04-01T12:46:35","date_gmt":"2010-04-01T16:46:35","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8178"},"modified":"2010-04-01T12:46:35","modified_gmt":"2010-04-01T16:46:35","slug":"gold-surges-with-global-manufacturing-growth","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/01\/gold-surges-with-global-manufacturing-growth\/","title":{"rendered":"Gold Surges with Global Manufacturing Growth"},"content":{"rendered":"

By Fast Brokers<\/strong> – Gold has surged past its downtrend line running through March 17 highs, or the 1133\/oz area.\u00a0 Hence, the precious metal could have some more near-term topside momentum left in it.\u00a0 Although, gold must now deal with 3\/18 highs.\u00a0 Gold is reacting positively to encouraging manufacturing PMI data from around the globe.\u00a0 While China, Japan, and the UK all met expectations, the U.S. impressed.\u00a0 Hence, the risk trade has received a boost, a positive development for Gold due to its usual negative correlation with the Greenback.\u00a0 The Cable, Aussie and EUR\/USD are all logging solid gains, creating a conductive environment for Gold\u2019s new uptrend.\u00a0 Now attention will turn to tomorrow\u2019s key U.S. employment data.\u00a0 The U.S. will release Non-Farm Employment Change and headline Unemployment Rate figures tomorrow despite a banking holiday.\u00a0 Hence, tomorrow prove to be a volatile trading session due to the combination of key fundamental data and light volume as many investors take off for a 3-day weekend.<\/p>\n

Technically speaking, gold faces topside technical barriers in the form of intraday, 3\/18, and 3\/17 highs.\u00a0 As for the downside, gold has fresh uptrend lines serving as technical cushions along with 3\/18 and intraday lows.<\/p>\n

Present Price: $1126.50\/oz
\nResistances: $1127.28\/oz, $1128.49\/oz, $1129.19\/oz, $1130.19\/oz, $1130.99\/oz
\nSupports: $1126.28\/oz, $1125.18\/oz, $1124.28\/oz, $1123.08\/oz, $1121.67\/oz, $1120.77\/oz
\nPsychological: $1100\/oz, March highs and lows<\/p>\n

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

(click chart to enlarge)<\/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 regarded neither 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 surged past its downtrend line running through March 17 highs, or the 1133\/oz area.\u00a0 Hence, the precious metal could have some more near-term topside momentum left in it.\u00a0 Although, gold must now deal with 3\/18 highs.\u00a0 Gold is reacting positively to encouraging manufacturing PMI data from around the globe.\u00a0 … <\/p>\n

Continue reading “Gold Surges with Global Manufacturing Growth”<\/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-8178","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8178","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=8178"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8178\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}