{"id":8275,"date":"2010-04-06T14:40:18","date_gmt":"2010-04-06T18:40:18","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8275"},"modified":"2010-04-06T14:40:18","modified_gmt":"2010-04-06T18:40:18","slug":"gold-tests-1135oz","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/06\/gold-tests-1135oz\/","title":{"rendered":"Gold Tests $1135\/oz"},"content":{"rendered":"

By Fast Brokers<\/strong> – Gold has broken through previous April highs and is testing the patience of 3\/17 highs and the psychological $1135\/oz level.\u00a0\u00a0 Strength in gold comes amid renewed weakness in the risk trade as the Euro and Pound take a beating.\u00a0 Fresh uncertainty in Greece is sending government bond yields higher and investors divesting from the risk trade in succession.\u00a0 Additionally, the Cable is being hit by the announcement of parliamentary elections being held on May 6th and the concept of a hung parliament slowly becoming reality.\u00a0 Risk aversion has sent investors towards gold and higher yielding currency pairs.\u00a0 Hence, gold\u2019s usual negative correlation with the Greenback has gone astray as investors digest negative psychological developments.\u00a0 Meanwhile, the precious metal is separating itself further from key downtrend lines running through March 3rd highs, or the $1150\/oz area.\u00a0 Therefore, gold could have some more topside momentum left for the near-term.\u00a0 The Fed now comes into focus with the release of FOMC meeting minutes this afternoon, and investors will be paying attention to see whether the central bank\u2019s economic outlook has improved in the wake of positive U.S. data.\u00a0 Although the U.S. will be quiet on the data front tomorrow, investors will receive some important data from the UK along with the BoJ\u2019s monetary policy announcement during the Asia trading session.\u00a0 Investors should also keep an eye on the data wires for any more developments in Greece.<\/p>\n

Technically speaking, gold faces topside technical barriers in the form of the psychological $1135\/oz area and 3\/17 highs.\u00a0 As for the downside, gold has fresh uptrend lines serving as technical cushions along with intraday, 4\/2, and 4\/1 lows.<\/p>\n

Present Price: $1132.90\/ oz
\nResistances: $1133.09\/oz, $1134.05\/oz, $1135.01\/oz, $1135.88\/oz, $1137.04\/oz
\nSupports: $1131.72\/oz, $1130.76\/oz, $1129.86\/oz, $1128.21\/oz, $1127.28\/oz, $1126.56\/oz
\nPsychological: $1130\/oz, March highs and April 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 broken through previous April highs and is testing the patience of 3\/17 highs and the psychological $1135\/oz level.\u00a0\u00a0 Strength in gold comes amid renewed weakness in the risk trade as the Euro and Pound take a beating.\u00a0 Fresh uncertainty in Greece is sending government bond yields higher and investors … <\/p>\n

Continue reading “Gold Tests $1135\/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-8275","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8275","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=8275"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8275\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8275"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8275"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8275"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}