{"id":8882,"date":"2010-04-28T14:59:46","date_gmt":"2010-04-28T18:59:46","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8882"},"modified":"2010-04-28T14:59:46","modified_gmt":"2010-04-28T18:59:46","slug":"gold-rushes-higher-with-risk-aversion","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/28\/gold-rushes-higher-with-risk-aversion\/","title":{"rendered":"Gold Rushes Higher with Risk Aversion"},"content":{"rendered":"

By Fast Brokers<\/strong> – Gold has regained its luster as a safe haven, casting aside its negative dollar correlation and rushing higher as the Euro and Pound dive.\u00a0 The S&P\u2019s downgrades of Greek and Portugal debt really rocked the markets yesterday, sending the VIX, dollar and yen higher as investors headed for the exits.\u00a0 Meanwhile, attention turns to the Fed and investors will be looking to see whether the central bank alters its timeline for loose policy due to the recent upturn in U.S. economic fundamentals.\u00a0 However, since the Fed is likely to keep its policy unchanged due to high U.S. unemployment, new developments in fiscally troubled EU nations and in UK parliamentary elections will likely have the largest impact on gold over the near-term.\u00a0 Should EU bond yields continue to rise, this could boost the precious metal higher due to risk averse flows.\u00a0 Additionally, the closer the UK gets to a hung parliament the more uncertainty investor uncertainty will increase, a negative for the Pound and possibly a positive for gold.<\/p>\n

Technically speaking, gold burst through previous April highs yesterday, certainly a positive development for the precious metal in terms of momentum.\u00a0 That being said, gold is beginning to square its sights on the highly psychological $1200\/oz level and previous all-time highs.\u00a0 As for the downside, gold has multiple uptrend lines serving as technical cushions along with intraday and 4\/27 lows.\u00a0 Additionally, the psychological $1160\/oz and $1150\/oz areas could serve as solid cushions should they be tested.<\/p>\n

Present Price: $1167.78\/ oz
\nResistances: $1168.59\/oz, $1170.23\/oz, $1172.43\/oz, $1174.22\/oz, $1176.48\/oz, $1178.77\/oz
\nSupports: $1165.17\/oz, $1163.59\/oz, $1161.37\/oz, $1159.47\/oz, $1157.26\/oz, $1154.73\/oz
\nPsychological: $1170\/oz, $1160\/oz, $1150\/oz, April 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 regained its luster as a safe haven, casting aside its negative dollar correlation and rushing higher as the Euro and Pound dive.\u00a0 The S&P\u2019s downgrades of Greek and Portugal debt really rocked the markets yesterday, sending the VIX, dollar and yen higher as investors headed for the exits.\u00a0 Meanwhile, … <\/p>\n

Continue reading “Gold Rushes Higher with Risk Aversion”<\/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-8882","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8882","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=8882"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8882\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}