{"id":9380,"date":"2010-05-12T12:30:04","date_gmt":"2010-05-12T16:30:04","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9380"},"modified":"2010-05-12T12:30:04","modified_gmt":"2010-05-12T16:30:04","slug":"gold-sets-new-record-highs","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/12\/gold-sets-new-record-highs\/","title":{"rendered":"Gold Sets New Record Highs"},"content":{"rendered":"<p><strong>By Fast Brokers<\/strong> &#8211; Gold has blown past December 2009 levels, setting new record highs as anticipated.\u00a0 Everybody seems to be jumping on the bandwagon as gold\u2019s rise garners global attention.\u00a0 While we would normally assume this would mean a top is approaching, abnormal issues in the EU have created an environment beneficial for gold with the precious metal benefitting from a win-win position.\u00a0 However, should uncertainty surrounding the EU manage to calm to a reasonable level, this could take some of the jazz out of gold\u2019s upward momentum. Regardless, gold\u2019s rapid ascent from March lows has been impressive, to say the least.\u00a0 The data wire will be relatively quiet tomorrow and the EU will take off for a banking holiday, meaning current trends should remain intact over the next 24-hours barring an unforeseen psychological event.<\/p>\n<p>Technically speaking, gold faces technical barriers in the form of intraday highs and the psychological $1250\/oz area.\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.\u00a0 Gold has run out of meaningful technical barriers, normally a positive sign concerning near to medium term performance.<\/p>\n<p>Present Price: $1240.13\/ oz<br \/>\nResistances: $1244.32\/oz<br \/>\nSupports: $1236.76\/oz, $1232.64\/oz, $1227.49\/oz, $1225.88\/oz, $1223.58\/oz, $1219.26\/oz<br \/>\nPsychological: $1250\/oz, $1200\/oz<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/May11Gold.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/May11Gold.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 has blown past December 2009 levels, setting new record highs as anticipated.\u00a0 Everybody seems to be jumping on the bandwagon as gold\u2019s rise garners global attention.\u00a0 While we would normally assume this would mean a top is approaching, abnormal issues in the EU have created an environment beneficial for gold &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/05\/12\/gold-sets-new-record-highs\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gold Sets New Record Highs&#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-9380","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9380","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=9380"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9380\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=9380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=9380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=9380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}