Results for 'Gold'
36 articles with this tag name
Updated May 13, 2013 4:00:00 AM
Gold has managed to find its feet after dipping as low as $1,419 on Friday, its lowest level for three weeks. Indian celebrations ahead of the Akshaya Trittya festival that takes place today may have helped to put a temporary floor in the gold price, but the lacklustre recovery suggests that the bears still have the upper hand. We think that the market will be looking for selling opportunities especially as rumours grow that
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Updated May 10, 2013 9:00:00 AM
The commodity sphere has been hit hard by the rally in the dollar in the last 24 hours. Gold is no exception, having fallen more than $45 per ounce, which brings to a close three weeks of gains. In the short-term gold traders may just as well look at what USDJPY is doing to get a grip on what gold’s next move may be. But at some stage will it be worth fading the decline
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Updated Apr 30, 2013 10:00:00 AM
We tentatively ask this question after the continued recovery in gold, oil, copper and now even sugar is joining the party. But is this the start of a new uptrend or are investors just covering their short positions and taking profit? It’s hard to lump commodities together as they are fuelled by various drivers like supply/ demand and weather patterns. However, it is not unheard of for commodities to move together like a block.
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Updated Apr 29, 2013 5:00:00 AM
After missing the fun and games in the market at the end of last week, I was out on Friday, I have come back to the FX world today and three things stand out: 1, the dollar is weak across the board, the dollar index fell below the 50-day moving average (on the close) at 82.40 on Friday after the Q1 GDP miss. 2, GBPUSD carried on its revival at the end of last week
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Updated Apr 24, 2013 7:15:00 PM
Nearly a month ago we gave you anther perspective on the U.S. equity rally over the past few years, as we highlighted the Dow Jones Industrial Average priced in Gold (rather than USD’s). While the ratio was clearly a long way away from its All-time high of 44 in July 1999, there was signs that “things could be moving in the right direction for the Dow priced in Gold, as weekly RSI has finally broken
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Updated Apr 17, 2013 12:47:25 AM
Amidst a lack of market moving events, consolidation trading took hold of markets in Asia. Most major equity markets held onto their opening gains on the back of a positive handover from US markets. US housing starts were more than expected in March, reinforcing the notion of an recovery in the world’s largest economy. However, China’s recent GDP miss is still weighing on commodity currencies, which are struggling to regain all of their lost ground.
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Updated Apr 16, 2013 9:00:00 AM
Market movements so far today have been much calmer than they have been in recent days. Gold seems to have made a temporary base at $1,322- the low from yesterday – and has staged a fairly impressive recovery so far today. It managed to break above this morning’s prior high at $1,380 and is now testing $1,1400. A period of consolidation is to be expected, after all the market can’t continue to drop $150 per
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Updated Apr 16, 2013 12:56:15 AM
Risk assets staged a recovery late in the session, with AUD, NZD and EUR regaining some ground against the US dollar. Even gold managed to hold its ground, after falling the most in 30 years over a two-day period. XAUUSD held around 1350 despite CME increasing margin requirements for gold, silver and other precious metals. A lack of market moving data resulted in some profit taking on short positions in commodity currencies. RBA minutes
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Updated Apr 15, 2013 6:30:00 PM
In light of the terribly horrific event that occurred at today’s Boston Marathon and the ongoing investigation, we will not elaborate too much on its market impact, but will state some quick market facts: At the beginning of the month we stated “Considering its close proximity to these All-time highs, we believe the S&P500 is likely to make a strong push for 1576 and potentially even break above it over the coming days. However, should
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Updated Apr 15, 2013 4:15:00 PM
Risk sentiment is broadly lower and the USD is higher against all of the G10 currencies except for the JPY. Sentiment declined following an unexpected slowdown in China’s 1Q GDP figures which were released overnight and amid continued weakness in US 2Q data. The April Empire manufacturing index fell by more than expected to 3.05 from the prior 9.24 (cons. 7.00) and total net foreign investment flows into the US dropped to $53.6B from the
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