{"id":9234,"date":"2010-05-07T14:20:56","date_gmt":"2010-05-07T18:20:56","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9234"},"modified":"2010-05-07T14:20:56","modified_gmt":"2010-05-07T18:20:56","slug":"gold-holds-above-1200oz","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/07\/gold-holds-above-1200oz\/","title":{"rendered":"Gold Holds Above $1200\/oz"},"content":{"rendered":"<p><strong>By Fast Brokers<\/strong> &#8211; Gold popped above its highly psychological $1200\/oz level and is holding the line today after yesterday\u2019s panic in the U.S. and EU sent investors scurrying towards safety.\u00a0 Gold showed its luster as a safe haven and investors snapped up the precious metal in a hurry, nearly sending it towards a retest of all-time highs.\u00a0 The risk trade is still under pressure today as investor confidence falters, giving gold more topside momentum.\u00a0 However, gold does have to deal with those December 2008 highs and will need another strong boost to climb past it.\u00a0 Meanwhile, investors should be on high alert as it seems activity will remain at an abnormal level with investors on edge.\u00a0 On the other hand, if the G7 can work together to ease uncertainty then this may enable the risk trade to end the week on a solid note.\u00a0 However, it\u2019s tough to get any kind of clear reading at the moment considering the circumstances.\u00a0 Hence, investors should exercise caution and keep an active ye on the news wire.<\/p>\n<p>Technically speaking, intraday and December 2008 highs.\u00a0 As for the downside, gold has multiple uptrend lines serving as technical cushions along with intraday lows and the highly psychological $1200\/oz area.<\/p>\n<p>Present Price: $1202.20\/ oz<br \/>\nResistances: $1204.58\/oz, $1207.76\/oz, $1211.05\/oz, $1212.78\/oz, $1215.41\/oz, $1217.38\/oz<br \/>\nSupports: $1202.01\/oz, $1200.31\/oz, $1196.37\/oz, $1194.07\/oz, $1192.10\/oz, $1188.30\/oz<br \/>\nPsychological: $1200\/oz, $1175\/oz, December 2008 highs<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/May7Gold.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/May7Gold.png\" alt=\"\" width=\"595\" height=\"400\" \/><\/a><\/p>\n<p>(click chart to enlarge)<\/p>\n<p><em><strong>Market Commentary<\/strong><\/em> provided by <a href=\"http:\/\/www.fastbrokers.com\/index.php?CP001\" target=\"_blank\"><strong>Fast                      Brokers<\/strong>.<\/a><\/p>\n<p><strong>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<p><strong>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":"<p>By Fast Brokers &#8211; Gold popped above its highly psychological $1200\/oz level and is holding the line today after yesterday\u2019s panic in the U.S. and EU sent investors scurrying towards safety.\u00a0 Gold showed its luster as a safe haven and investors snapped up the precious metal in a hurry, nearly sending it towards a retest &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/05\/07\/gold-holds-above-1200oz\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gold Holds Above $1200\/oz&#8221;<\/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-9234","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9234","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=9234"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9234\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=9234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=9234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=9234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}