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Thread: Gold sees a gradual down in asia due to strong dollar surge

  1. #1
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    Default Gold sees a gradual down in asia due to strong dollar surge

    Gold prices on Comex is seen on a retreat from four-week tops reached near $ 1260 barrier, but manages to hold above $ 1250 mark amid a steady recovery witnessed in the US dollar across the board since the last US session.

    Gold Market Analysis:
    Currently, gold trades marginally lower at $ 1253.55, having found strong bids at $ 1252/1252.50 levels. Gold prices is on the back foot so far this session as the risk-sentiment appears to have improved amid a recovery in the Asian equities, while a renewed rally in the 2-year treasury yields indicates markets’ optimism on the Fed’s pace of tightening monetary policy, which collaborates to the retreat in the non-interest bearing gold.

    Gold also finds sellers amid a broad based US dollar recovery, as markets take profits off the table after yesterday’s extensive sell-off, triggered by the Healthcare debacle

    Gold Technical Levels:
    The metal has an immediate resistance at 1260.95 and 1265. Meanwhile, the support stands at 1251.38 below which doors could open for 1244.46/36.

    Click image for larger version. 

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    Avg Sell Price:
    1265.00

    Avg Buy Price:
    1223.50

    Recommendation:
    BUY

    For live gold tips and gold signals along with target price and stop loss subscribe to http://www.mmfsolutions.sg

  2. #2
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    Default

    Yesterday we expected bearish movement with minimum target 1271.Market move lower and bounce from 1274 zone.Current gold price is 1279, It seems bearish bias is still not over and we are still expecting a more bearish move towards minimum 1271 and maximum 1263.

    Click image for larger version. 

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    TREND INDEX
    Bearish

    AVG SELL PRICE
    1291.00

    AVG BUY PRICE
    1248.00

    Stay updated with live gold tips and gold trading tips to know the stop loss and target price for profitable investment.

  3. #3
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    Default

    The rising global bond yield environment is keeping gold under pressure; however, the losses are being capped at the weekly 50-MA level of $1218.50 ahead of the US NFP release.

    As of writing, the metal trades at $1120/Oz. A break below $1218.50 (weekly 50-MA) would open up downside towards $1214.40 (May low) and $1211.73 (Nov 11 low). On the other hand, breach of $1223.50 (5-DMA) would open doors for $1226 (1-hour 50-MA) and $1229.37 (resistance on 1-hour chart).

    Reference: https://uaefinancialmarket.blogspot....to-rising.html

    To know our latest recommendation or gold trading signals along with stop loss and target price visit www.mmfsolutions.sg

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    Default

    This topic is being updated for further discussions...

  5. #5
    Moderator cool user Resolve's Avatar
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