{"id":9478,"date":"2010-05-17T13:44:17","date_gmt":"2010-05-17T17:44:17","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9478"},"modified":"2010-05-17T13:44:17","modified_gmt":"2010-05-17T17:44:17","slug":"gold-consolidates-below-1250oz","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/17\/gold-consolidates-below-1250oz\/","title":{"rendered":"Gold Consolidates Below $1250\/oz"},"content":{"rendered":"<p><strong>By Fast Brokers<\/strong> &#8211; Gold is having trouble breaking through its psychological $1250\/oz level, yet is piecing together a solid period of consolidation well above its highly psychological $1200\/oz area.\u00a0 Consolidation in gold is understandable and welcome considering the rally which has taken place so far this month.\u00a0 Stability in gold today as the risk trade pops supports the concept that the precious metal can still exercise its negative correlation with the greenback.\u00a0 That being said, gold is still in a sweet spot so long as investor anxiety continues regarding the stability of the EU.\u00a0 Hence, investors should keep a sharp eye on the news wire for any new psychological developments.\u00a0 The data wire will pick back up again tomorrow with the UK, EU, and U.S. each printed a data point of significance.\u00a0 Hence, this calm beginning to the weak could dissipate should the data stray from analyst expectations.<\/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: $1236.45\/ oz<br \/>\nResistances: $1236.76\/oz, $1239.51\/oz, $1242.01\/oz, $1244.32\/oz, $1249.04\/oz<br \/>\nSupports: $1232.16\/oz, $1229.34\/oz, $1225.82\/oz, $1223.56\/oz, $1219.26\/oz<br \/>\nPsychological: $1250\/oz, $1200\/oz<\/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 is having trouble breaking through its psychological $1250\/oz level, yet is piecing together a solid period of consolidation well above its highly psychological $1200\/oz area.\u00a0 Consolidation in gold is understandable and welcome considering the rally which has taken place so far this month.\u00a0 Stability in gold today as the risk &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/05\/17\/gold-consolidates-below-1250oz\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gold Consolidates Below $1250\/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-9478","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9478","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=9478"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9478\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=9478"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=9478"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=9478"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}