{"id":9016,"date":"2010-05-03T10:20:24","date_gmt":"2010-05-03T14:20:24","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9016"},"modified":"2010-05-03T10:20:24","modified_gmt":"2010-05-03T14:20:24","slug":"golds-price-surge-has-it-peaked","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/03\/golds-price-surge-has-it-peaked\/","title":{"rendered":"Gold\u2019s Price Surge, Has it Peaked?"},"content":{"rendered":"

By Greg Holden<\/strong> – Typical of a sustained movement, similar to what Gold prices have been experiencing, there eventually arrives a decision point. Concerning the price of Gold, that point may have arrived. We\u2019ve seen gold prices climbing steadily these past few weeks as concerns over the Euro-Zone\u2019s sovereign debt crisis and potential Greek default have pushed many investors out of currency safe-havens and into commodities such as Gold.<\/p>\n

What we see now in the charts is Gold prices hitting a potential breaking point. The $1,181 price level appears to represent a strong resistance line for Gold prices. It is only natural then that our technical indicators, displayed below, are showing an impending downward correction. But is the price of Gold really ready to halt its upward mobility?<\/p>\n

– The chart below is the Gold daily chart by ForexYard.<\/p>\n

– The indicators used are the Williams Percent Range, Stochastic (slow), and the Fibonacci Retracement lines were also drawn.<\/p>\n

– Point 1: Here we see that the price has reached a significant resistance point, represented by the 76.4% Fibonacci Retracement line.<\/p>\n

– Point 2: Our Williams Percent Range shows the price highly over-bought and beginning to turn downward.<\/p>\n

– Point 3: There are multiple bearish crosses on the Stochastic (slow) which highlight an impending downward correction.<\/p>\n

– Taken together, all of this information leads us to suspect that Gold prices should react in the near future to technical pressures and correct downward. But fundamental analysis tells a different story. For more on the fundamental side of the equation, read Peter Robinson\u2019s analysis on Gold and the European markets here<\/a>.<\/p>\n

Gold \u2013 Daily Chart<\/strong><\/p>\n

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

Forex Market Analysis<\/strong><\/em> provided by\u00a0Forex Yard.<\/strong><\/a><\/p>\n

\u00a9 2006 by FxYard Ltd<\/p>\n

Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Greg Holden – Typical of a sustained movement, similar to what Gold prices have been experiencing, there eventually arrives a decision point. Concerning the price of Gold, that point may have arrived. We\u2019ve seen gold prices climbing steadily these past few weeks as concerns over the Euro-Zone\u2019s sovereign debt crisis and potential Greek default … <\/p>\n

Continue reading “Gold\u2019s Price Surge, Has it Peaked?”<\/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-9016","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9016","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=9016"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9016\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=9016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=9016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=9016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}