{"id":9699,"date":"2010-05-25T13:43:21","date_gmt":"2010-05-25T17:43:21","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9699"},"modified":"2010-05-25T13:43:21","modified_gmt":"2010-05-25T17:43:21","slug":"gold-hovers-below-1200oz","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/25\/gold-hovers-below-1200oz\/","title":{"rendered":"Gold Hovers Below $1200\/oz"},"content":{"rendered":"

By Fast Brokers <\/strong>– Gold is creeping higher as investors divest from the risk trade.\u00a0 While investors may expect gold to climb higher during moments of heightened uncertainty, it seems the precious metal is hesitating at its highly psychological $1200\/oz level.\u00a0 However, should May lows in the EUR\/USD and Cable give way this could push gold back above $1200\/oz due to its status as a safe haven.\u00a0 Meanwhile, investors are waiting on U.S. CB consumer confidence as they monitor EU headlines.\u00a0 The Euro came under heavy selling pressure yesterday after the IMF issued a warning on Spain and the government took control of a regional bank.\u00a0 Additionally, news leaked that North Korea readied its military should South Korea attack after it became clear that the North sank the South\u2019s submarine.\u00a0 Though a military conflict is highly unlikely, should things go south this could help gold regain its upward momentum.\u00a0 We\u2019ll get some more key data from the U.S. tomorrow along with public statements from Shirakawa and Bernanke.\u00a0 Hence, it wouldn\u2019t be surprising to see markets stay active over the next 24 hours.<\/p>\n

Technically speaking, gold faces technical barriers in the form of intraday and 5\/7 highs.\u00a0 Additionally, the psychological $1200\/oz level should serve as a solid technical barrier should it be reached.\u00a0 As for the downside, gold still has multiple uptrend lines serving as technical cushions along with intraday and 5\/21 lows.\u00a0 Furthermore, the $1150\/oz level should serve as a strong technical cushion should it be tested.<\/p>\n

Present Price: $1193.95\/ oz
\nResistances: $1195.20\/oz, $1197.08\/oz, $1199.91\/oz, $1202.59\/oz, $1205.26\/oz
\nSupports:\u00a0 $1190.92\/oz, $1187.93\/oz, $1184.46\/oz, $1181.62\/oz, $1178.97\/oz.
\nPsychological:\u00a0 $1200\/oz, $1150\/oz<\/p>\n

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

(click chart to enlarge)<\/p>\n

Market Commentary<\/strong><\/em> provided by Fast Brokers<\/strong>.<\/a><\/p>\n

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

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":"

By Fast Brokers – Gold is creeping higher as investors divest from the risk trade.\u00a0 While investors may expect gold to climb higher during moments of heightened uncertainty, it seems the precious metal is hesitating at its highly psychological $1200\/oz level.\u00a0 However, should May lows in the EUR\/USD and Cable give way this could push … <\/p>\n

Continue reading “Gold Hovers Below $1200\/oz”<\/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-9699","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9699","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=9699"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9699\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=9699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=9699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=9699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}