Gold remains stuck in a range

11 November, 2015

 The range bound action in Gold remains intact for the third straight session amid USD strength and the weakness in the stock markets. 

Gold comatose, while treasury yields dip

Prices trade comatose around USD 1090/Oz levels, while the treasury yields dipped. The 2-yr yield fell more than 1 bps and the 10-yr yield declined by more than 2 bps. However, the weakness in the yield has had little effect on the USD index, which trades largely unchanged around 99.20 levels. 

Ahead in the day, there is little reason for the metal to breach its three day old range of USD 1085-1095 as the US markets are closed and the economic calendar is empty. 

Gold Technical Levels

The immediate resistance is seen at 1091.53 (hourly 50-MA), above which the prices could test 1100. On the other side, support is seen at 1085.44 (Friday’s low), under which the losses could be extended to 1070 (July lows). 


Source link  
The Fed acknowledges uncertainty and risks present in the inflation outlook

The minutes of the US Federal Reserve December 15-16 meeting was published yesterday. The Fed had in its December meeting raised the interest rates from record low levels for the first time in a decade...

Oil recovers from below $37.00 a barrel, reverses daily losses

Oil prices reversed daily losses during the New York session amid profit taking in the absence of fundamental catalysts. WTI turned positive for the day after hitting a fresh 6-year low of $36.64 a barrel, and climbed back above $38.00 a barrel...

European stocks rise as countdown begins for ECB meeting

The European stocks rallied on Thursday as the investors now look towards the Dec 3rd European Central Bank (ECB) meeting, where Draghi is expected to announce additional stimulus measures...


UK services PMI: What to expect of GBP/USD

As per past patterns, a sharp rise in the manufacturing PMI is followed by an uptick in the services PMI figure. The manufacturing PMI released on Monday beat expectations by a wide margin and printed at 16-month high...

Gold/EUR continues upward journey

Gold prices in the EUR terms extended post-ECB gains today as the metal continues to cheer the prospects of fresh currency debasement in December- more QE/rate cut...

Gold set for more pain into 2016

According to a recent Reuters poll, gold prices are expected to extend their weakness into 2016 with further declines in sight after a weak third quarter...


Gold clocks fresh session highs on USD weakness

The broad based selling in the USD index amid weakness in the European stocks pushedgold to a session high of USD 1176/Oz levels...

Gold pares losses near $ 1153; China chaos backs the safe-haven

The metal has an immediate resistance at 1160 and 1164 levels. Meanwhile, support stands at 1150.90 (Today’s Low) below which doors could open for 1148.50 (July 8 Low) levels...

EUR weakness set to persist

A reversal of fortune in the EUR after an unexplained selloff in German bunds and repricing of EZ macro risks (better growth than initially expected) drove EUR strength...

  


Share: