Gold stays below 100-DMA, but above $1100

January 21, 2016

Gold prices remain above USD 1100/Oz levels on safe haven appeal, but trades just below the 100-DMA level of USD 1105.38. 

At 1-1/2 week highs

The metal is trading at 1-1/2 week highs as it remains as the investors poured money into the yellow metal amid drop in oil and equity prices. Asian stocks and crude oil prices regained some lost ground on Thursday but sentiment remained fragile.

The metal traders now await wait to see if the European bourses remain risk averse or tick higher in anticipation of a dovish comments from the ECB head later today. 

Gold Technical Levels

The metal currently trades around USD 1104/Oz levels. A break above the previous day’s high of 1109.70 would open doors for a re-test of 1118.85 (50% of Oct high-Dec low). On the other hand, a break below 1100 could see the prices drop to 1095.26 (Jan 14 high).

Publication source
HYCM information  HYCM reviews

October 25, 2016
US flash Markit PMI jumped 1.7 points to 53.2 in October
Asian stock markets are mostly down, as the positive confidence indicators out of Europe and the U.S. yesterday were overshadowed by weak GDP numbers from South Korea, which weighed on most markets. Topix and Nikkei outperformed, with a weaker Yen underpinning exporters...
October 25, 2016
Fed speech, flash PMI push dollar to a fresh 8-month high
Marking the final day of Fed speeches ahead of the one-week blackout period starting today, FOMC voting member, Bullard said that December was most likely for a rate hike...
October 25, 2016
M&A activities drove equities, focus shifts to earnings
Equity markets began the week on a positive note with M&A activities, positive earnings, and better than expected manufacturing data from the Eurozone and U.S. all boosting appetite to risk...

Grand Capital Rating Rating
Larson&Holz IT Ltd Rating
FIBO Group Rating
Vantage FX Rating
OctaFX Rating

Beeoptions Rating
OptionFair Rating
Binary Brokerz Rating
Banc De Binary Rating
Porter Finance Rating
EZTrader Rating