{"id":9602,"date":"2010-05-20T12:35:40","date_gmt":"2010-05-20T16:35:40","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9602"},"modified":"2010-05-20T12:35:40","modified_gmt":"2010-05-20T16:35:40","slug":"gold-continues-its-slide","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/20\/gold-continues-its-slide\/","title":{"rendered":"Gold Continues its Slide"},"content":{"rendered":"<p><strong>By Fast Brokers<\/strong> &#8211; Gold is continuing its retracement from $1200\/oz even as the risk trade weakens again.\u00a0 We\u2019re still accounting present weakness in gold to profit taking and should uncertainty take hold of the EU again we wouldn\u2019t be surprised to see the precious metal shoot back above $1200\/oz.\u00a0 Regardless, gold is beginning to test some stronger near-term technical supports and it will be interesting to see how the precious metal behaves over the next 24 hours.\u00a0 Meanwhile, investors will be assessing weekly U.S. unemployment claims and the Philly index as well as monitoring conditions in the EU.\u00a0 The show of unity has dissipated in the EU since the announcement of its $1 trillion rescue package, putting investors on edge as they wait for the next hat to drop.\u00a0 Governmental leaders are trying to sell the rescue package to their constituents, but with little success at this point.\u00a0 The EU and UK will each release key data tomorrow, meaning the trading week could end on a volatile note.<\/p>\n<p>Technically speaking, gold faces technical barriers in the form of intraday and 5\/7 highs.\u00a0 As for the downside, gold still has multiple uptrend lines serving as technical cushions along with 5\/6 and 5\/5 lows.<\/p>\n<p>Present Price: $1184.62\/ oz<br \/>\nResistances: $1187.10\/oz, $1191.33\/oz, $1195.20\/oz, $1199.30\/oz, $1202.59\/oz<br \/>\nSupports: $1183.52\/oz, $1178.97\/oz, $1174.76\/oz, $1171.60\/oz, $1168.80\/oz<br \/>\nPsychological:\u00a0 $1200\/oz<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/May20Gold.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/May20Gold.png\" alt=\"\" width=\"595\" height=\"400\" \/><\/a><\/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 continuing its retracement from $1200\/oz even as the risk trade weakens again.\u00a0 We\u2019re still accounting present weakness in gold to profit taking and should uncertainty take hold of the EU again we wouldn\u2019t be surprised to see the precious metal shoot back above $1200\/oz.\u00a0 Regardless, gold is beginning to &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/05\/20\/gold-continues-its-slide\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gold Continues its Slide&#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-9602","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9602","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=9602"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9602\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=9602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=9602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=9602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}