Gold Fundamental Analysis

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Gold price bullish movements end at Asian session (04:40:35 GMT) after a strong move opened higher at 1318.90 in early trading (0000 GMT), now XAUUSD rolling value is at 1320.10. Gold prices opened higher but had a negative move up again by a slump in Asian stocks where the market concerns will rise as expectations of Fed rate hike in the midst of global economic conditions on the brink of recession.

 

This concern makes the market had traded a safe haven asset. Technically XAUUSD can rise up to the range between 1323.15-1330.57, and if it is not realized then this pair may corrected to the range between 1312.55-1307.46. So analyst argued that the normal range XAUUSD today is expected to have the support level at 1298.73 and resistance level at 1341.15.

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Gold price movements end of the Asian session (05:30:35 GMT / 11:40 GMT) after a weak move opened lower at 1321.95 in early trading (0000 GMT), now XAUUSD is rolling at 1321.60.

Gold prices opened lower which was a positive move but fell back by strong Asian markets except for Nikkei. Previous price of gold managed to rebound from the selling pressure for 5 consecutive days by expectations of Fed rate hikes. However, during the American session gold price could rise again if US dollar pressured by economic data releases.

Technically XAUUSD can move up to the range of 1326.75-1332.51 . The decline of gold prices may brought this commodity to to the lower or around 1313.03-1308.22 on European Session. So the normal range of Gold today is expected to have support level at 1301.96 and resistance level at 1338.05.

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Gold price movements end of Asia session (04:40:35 GMT / 11.40 pm) moves weaker after opened higher at 1315.00 in early trading (0000 GMT), now XAUUSD rolling value is at 1313.85 and seems will be weakening more.

Gold prices opened lower following the trend continues the previous trading natural profit taking while US dollar is weakening. The weakening gold prices triggered a stronger stock market trading steady lifting other risky assets.

It seems XAUUSD moving down to the range of 1311.83-1305.53, but if there is a correction the price of gold could climb back up to the range 1319.03 - 1325.22. So the normal range XAUUSD pair today is expected to have support level at 1296.75 and resistance level at 1342.14.

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After weeks of speculation back and forth, which led to increased volatility, the Federal Reserve will release its monetary policy decisions are highly anticipated by many people who could end up with an impact that is positive for gold prices.

Following the closing of the positive over the last two weeks respectively - helped the gold market ended the market in the last week in negative territory with traders continuing to clean up their positions ahead of a meeting of the Federal Open Market Committee next week, which will also update its economic forecasts and held a press conference with Governor Fed Janet Yellen. The decline in gold prices was also caused by a bag of US economic data releases interplanted contents that make the market become more uncertain whether the Fed will raise interest rates or not.

Comex December gold futures closed on Friday last week at 1,310.20, - per ounce, down as much as $ 7.80, or 1.6% over the last week and was trading near the key psychological support at $ 1.300 per ounce. Comex December silver futures closed down two times in a row in negative territory at $ 18,862 per ounce, down 1.8% over the week.

The results of a survey of professionals in the Kitco reflect the significant uncertainty in the market with most analysts are not sure about the price movements of gold in the short term. This week, from 13 analysts and traders who took part in the survey, 38% predict gold prices will move higher. The rest of the participants were split in two with each as much as 31% looking at the gold price will move down, or "sideways".

Main Street looks a little more optimistic about the gold price movements this week. Of the 1,251 who took part, a total of 591 or 48% said gold would be "bullish" on the week, while 530 or 42% of the view "bearish" and 130 participants or 10% chose neutral.

KC Chang commodities analyst at HIS Global Insights says, "I think we could see the price of gold fell below $ 1.300 ahead of the Fed meeting with most investors have been entered in the price will rise in the interest rate, but I think we can also see a boost rise higher again after the Fed meeting passed. There is not enough data on inflation and the labor market to justify the increase in the interest rate on this week. ".

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Gold price movements at the end of Asia session (02:10:35 GMT / 09:10 GMT) move stronger than what expected and opened lower at 1313.05 in early trading (0000 GMT), now XAUUSD's rolling value at 1315.85. Gold prices tried to reach strong resistance.

Gold prices had opened slightly lower than the closing overnight but powerful moves back by market expectations that Fed policy will not change back this weekend so weakened US dollar is the option. But if US economic data this evening to give a strong force then gold prices could fall back.

Technically XAUUSD moving down to the range of 1311.58-1307.25. But when it comes to the range of resistant strength of the gold price continued up to the next resistance. So the normal range XAUUSD pair today is expected to have the support level at 1300.65 and resistance level at 1326.50. 

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Gold price movements in the end of Asia session (02:10:35 GMT / 09:10 GMT) move stronger than its counterpart after opened in the early trading at 1314.80 in early trading (0000 GMT), now XAUUSD rolling value is at 1315.15.

 

Gold prices opened slightly higher from overnight closing by market doubts will be the meeting of the US Federal Reserve's policy committee this evening which determines the Fed's interest rate decision. If the Fed change the interest rates on the price of gold will decline.

 

XAUUSD fundamentally rise to the range of 1318.31-1322.17, but if there is a correction the price may fall down to the range between 1312.07-1305.81. So the normal range for XAUUSD pair today is expected to have the support level at 1300.65 and resistance level at 1326.50.

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The price movement of gold in the Asia session (02:30:35 GMT) moves lower after opening lower at 1334.51 in early trading Asia (0000 GMT), and is now rolling value of XAUUSD is at 1333.19.

Gold prices trading naturally on Asia session on profit taking after earlier trading market busy to secure their assets ahead of the announcement of the Fed interest rate policy. After the announcement of the preferred market to the stock market.

Technically XAUUSD rise up to the range of 1335.62-1345.06 if the price happening can't do that then it will fall to the range between 1326.44-1320.90. XAUUSD pair today is expected to have the support level at 1309.25 and resistance level at 1350.67.

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Gold prices edged higher in late morning trade on Friday, after the US Federal Reserve kept interest rates unchanged, but the signals hwakish rise in December withstand further price increases. Spot gold prices edged up 0.04 percent at $ 1,337.11 per ounce, while US gold futures prices also edged up 0.07 percent to $ 1,340.90 per ounce.

Yellen said she hoped a rate increase this year if the labor market continues to increase and new risks are not raised. After that Gold greatly impact related to rising interest rates, especially in the United States, such as higher interest rates lift the opportunity cost of holding non-productive assets and enhance the US dollar.

Analyst estimates that the price of gold could potentially weakening with fears rising interest rates rose in December, but if US dollar weakness continue to lift prices. The price of gold is estimated in the range of $ 1,335- $ 1.333 and the price may rise to the resistance range of $ 1,339- $ 1.341.

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Despite the rhetoric of "hawkish" in recent years, policy makers took a vote last week by the results still keep the interest rate unchanged FFR. However, more officials who want more interest rate hikes than it was two years ago with a ratio of 7-3.

 

The Federal Open Market Committee will still meet again twice this year, namely on 1-2 November and 13 to 14 December. Most experts doubt the Fed will change interest rates in November to avoid politically visible in the week before the US presidential election, so now traders are trying to predict whether policy makers will raise interest rates in December.

 

The Fed officials have signaled its interest rate hikes, with "dot-plot" this week showed most policymakers want more interest rate hikes this year and the chairman Janet Yellen said in a press conference that "the possibility of higher interest rates has strengthened ". However, Federal funds futures indicate that the market is almost equally divided on the possibility of an interest rate hike in December. So now, market participants began to monitor the data again to see whether it will be or not be for policy makers to raise interest rates.

 

With the market assumes there will be no immediate interest rate hikes until December, gold traders await economic data coming this week to see whether policy makers will raise interest rates once again end the year. Gold prices opened slightly higher than the closing weekend, but a few moments later there highest profit-taking after gains in the previous 13 trading days. Sentiment undercut the price of gold comes from the strong global stock market indices.

 

It seems that gold able to fall down to the range of 1331.92-1327.48, but if there is a correction the price of gold will rise to a range of 1340.73-1344.26. And when the price fall to the strongest support then the price may further fall down to the next support. So the normal range XAUUSD pair today is expected to have the support level at 1324.97 and resistance level at 1349.30

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Gold price movements on European session (06:25:35 GMT / 13:30 pm) is sluggish after the price opened higher at 1338.05 in early trading (0000 GMT), now XAUUSD's rolling value is at 1333.20.

The price of gold on early Europe session still show a cheaper price than the previous trade by strengthening of US dollar after US presidential debate a few hours ago that gave support to Hillary Clinton. But in the American session, beware with CBI result which might be undermine the US dollar.

Gold can rise to around the range of 1340.35-1346.24 if the current gold price correction don't reach the range of 1331.83-1327.05. So the normal range of XAUUSD pair today is expected to have the support level at 1321.60 and resistance level at 1350.38.

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Gold price movements on Asia session (03:45:35 GMT / 1040 BST) is sluggish after the this commodity's price opened lower at 1326.75 in early trading (0000 GMT), now XAUUSD rolling value is located at 1325.30.

Gold prices on Asian session still hit the strong support for Hillary Clinton to become President of United States, the article that sentiment elevate the dollar so the price of the precious metal declined. But in the American session series of economic data could weaken the US dollar that triggered the increase in gold prices.

Technically, gold can rise to the range of 1328.64-1334.28 if the current gold price correction is not up to the range . So the normal range of XAUUSD pair today is expected to have the support level at 1320.60 and resistance level at 1349.24.

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Gold prices fell for a second day in a row and hitting a one-week at the end of trading on Thursday morning, after a statement by Federal Reserve Chairman Janet Yellen before a congressional committee and the strengthening of Wall Street.

Yellen defended the central bank's regulatory role and to consider changing the annual stress test given to US banks to see whether they can withstand large financial crisis. Yellen's statements could strengthen the US dollar. The weakening gold prices also triggered a stronger Wall Street after a surge in oil prices which reduced the interest to buy safe-haven assets this.

Gold spot gold price was fall down around 0.3 percent at $ 1,322.43 an ounce . It fell nearly 1 percent on Tuesday, its biggest one-day loss in a month, on strong risk appetite.US gold futures prices ended down 0.3 percent at $ 1,326. Meanwhile, Chicago Fed President Charles Evans said that raising interest rates because of concerns for financial stability could leave the US central bank is less able to achieve the inflation target. Minneapolis Fed President Neel Kashkari said rates could remain low for a while because inflation is still weak.

Gold prices cut losses after OPEC decided to cut oil production for the first time since 2008, which caused oil prices to jump as much as 5 percent. Gold is often considered as a hedge against oil-led inflation. Analyst estimates that the price of gold may rise helped by a surge in crude oil that secures the power of US dollar. The price of gold is estimated in the range of $ 1,324- $ 1.326 and if the price falls in the range of $ 1,320- $ 1.318.

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Gold prices ended down slightly in late morning trade on Friday after the dollar edged up but losses were restrained by weakening sentiment on Wall Street. Spot gold prices fell slightly at $ 1,319.59 per ounce, or down 0.11 percent after touching the overnight high of $ 1,325.52, while US gold futures prices closed up 0.2 percent at $ 1,326, and was last up 0.06 percent at $ 1,324.50.

Stocks traded sharply lower on Thursday after banking shares fell sharply.The dollar index, which measures the greenback against a basket of currencies, are flat after US growth data the second quarter and the weekly jobless claims was stronger than expected, but the decline of the US Pending Home Sales fell in August to its lowest level since January.

When the positive data released, investors raised bets on a rise in US interest rates, which would increase the opportunity cost of holding gold.Gold reducing earlier gains after the decision by OPEC on Wednesday to cut a simple production of the original agreements since 2008.

The sound is divided between Federal Reserve policy-makers at the time of raising US interest rates have weakened the interest of investors to trade because of comments by officials of the central bank.

Analyst estimates that the price of gold may rise triggered by the weakening of Wall Street to suppress the movement of Asia markets. The price of gold is estimated in the range of $ 1,322- $ 1.324 which act as resistance and if the price falls in the range of $ 1,318- $ 1.316 which act as support.

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Gold price movements on European session (06:35:35 GMT / 13.40 pm) is sluggish after the price of this precious commodity opened lower at 1318.45 in early trading (0000 GMT), the gold price rolling value is now at 1315.80.

Overall the price of gold in the early of Europe session still shows the weak movement which continue the earlier pressure by the strong momentum of the US dollar and also the consolidation of stock exchanges in Asia and Europe as respond to waning market concerns will be a crisis Deutsche Bank last week.

Technically, gold will continue to move down towards 1312.81-1306.74, and if it does not achieve the expected range of correction can ascend to between 1319.32-1325.28. So it seems that the normal range for XAUUSD pair today is expected to have the support level at 1300.97 and resistance level at 1339.70.

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Gold price movements of on Asia session engaged weak against US Dollar after this precious commodity price opened lower att 1312.55 in early trading, and right now the rolling value of this previous commodity is at around 1311.80.

The price of gold since the beginning already weak trade continuing selling pressure on the previous 5 days and as respond to the strong performance of Asian stock markets. The market sells a lot of gold to chase stocks that are profitable. Besides the pressure also came from the US dollar rally is quite high. But the lack of fundamentals driving US dollar today could trigger a rebound in gold prices.

Technically, gold is rising up towards the range between 1313.68-1320.62, and if did not reach that range between then the price is expected to be corrected again to the bottom at 1306.96. So analyst argued that the normal range pair for XAUUSD today is expected to have the support level at 1297.26 and the resistance level at 1325.17

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Gold price movements on the end of the Asian session (05:45:35 GMT / 12:50 GMT) move stronger against US Dollar after the price opened lower at 1268.50 in early trading (0000 GMT), the gold price is now rolling at 1273.00.

The price of gold since the beginning of Asian trading session affected in sizeable amount by bargain hunting as the respond of naturally weak US dollar and also the majority of Asian markets. The price of gold will be more expensive if US economic data this evening to press a lot of dollars.

Technically, gold could rise again towards the range between 1283.33-1296.62, and if it does not reach the range is expected to be corrected again to the bottom of the range which at 1265.32. So the normal range XAUUSD pair today is expected to have the support level at 1249.68 and resistance level at 1316.89.

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Gold price movements on Asia session (03:45:35 GMT) to move weaker after the price opened higher at 1267.45 in early trading (0000 GMT), the gold price is now rolling at 1265.20. Gold prices had experienced bargain hunting in early trading after being in 3-month lows, but fell back by the green Asian stock markets and the US dollar.

 

The market is more expensive for US private business performance data that is okay as a power boost expectations the Fed raises interest rates by year end. But in the evening session if a disappointing unemployment claims data is the US dollar retreat. 

 

Technically, gold could rise again towards the range between 1271.92-1279.73 if the gold price correction is now not reach the range of strong support. So it could be argued that the normal range for this commodity will be expected at around 1244.36 as support level and resistance level at 1290.28

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Gold prices fell in late morning trade on Friday, slipping to the lowest level in four months, pressured by a stronger dollar after US weekly jobless claims fell and ahead of key data jobs that could put the Federal Reserve on track to raise interest rates this year. Initial claims for state unemployment benefits are surprisingly declined 5,000 to a seasonally adjusted 249,000 for the week to 1 October.

 
US dollar rose to its highest in more than two months against a basket of currencies as the data reinforces the view that the Fed will raise interest rates later this year.

Spot gold was down 1.1 percent at $ 1251.64 per ounce and touched the lowest since June 24 at $ 1,261.59 in the previous session after manufacturing data exceeded forecasts and comments from Fed officials that there is a strong chance to raise interest rates. US gold futures for December delivery closed down 1.2 percent at $ 1,253 per ounce.

The market will now focus on a report non-farm payrolls on Friday, which is expected to show 175,000 jobs were added, according to the median estimate of 100 economists surveyed by Reuters. The potential gold price rose by bargain hunting after continued to weaken. However, it should be observed that if the movement of global stock markets weaken will raise the price of gold. Gold prices are expected to move in the range between $ 1254- $ 1256, whereas if the price drops will move in the range betweeb $ 1250- $ 1248.

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Gold price movements on Asian session move stronger than what people expected after the price of this precious commodity opened higher at 1257.90 in early trading , and the gold price is now rolling at 1263.65. It is also observed that gold spot price nearly made it past the strong resistance range.

The price of gold plummeted in two consecutive trading weeks by the strength of US dollar where its finally rebounded for the first time starting the second week of October trading. Throughout the day the price of gold is expected to remain strong by fading expectations of Fed rate hikes after the US NFP lapran last weekend.

Technically, gold could rise again towards the range between 1266.46-1277.90, but if there is a correction then this pair may come down again. So it seems that it could be argued that the normal range for XAUUSD pair today is expected to have support at 1230.43 and the resistance level at 1286.83.

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Gold price movements on Asian session (05:00:35 GMT / 11.00) is sluggish after the price of this precious commodity opened lower at 1259.75 in early trading (0000 GMT), the gold price is now rolling at 1257.33. High gold prices could move right through the strong resistance.

 

Gold prices experienced profit taking since the beginning of Asia session after earlier trading natural reinforcement received a US dollar rally business sentiment after a weekend of intense pressure from the natural NFP report in September. But in the American session USD could re-corrected so as to make the price of gold rose again.

 

Technically, gold could rise again towards the range between 1264.06-1268.46 if the decline in gold prices is now not reach the range of strong support. If translucent strong support will continue to fall to around 1241.90, but a break-resistant strength will go up to 1276.75. So the normal range of XAUUSD today is expected to have the support level at 1241.96 and resistance level at 1271.74.

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The price movement of gold in Asian session (01:10:35 GMT) moves lower after the price opened lower at 1256.25 in early trading Asia session, and is now the rolling price for XAUUSD is at 1254.85.

Gold prices on Asia session gain profit taking after earlier the market do bargain hunting after gold prices fell to five-month lows. Market optimistic about the Fed rate hike plan so doing action overnight and during the day is expected to be more depressed.

Technically XAUUSD is moving down to the range of 1251.57-1242.44, but if it does not penetrate these ranges and correction prices will rise towards the range of 1258.77- 1260.90. And if it breaks the support then it will come down again. So the normal range XAUUSD pair today is expected to have the support level at 1138.62 and resistance level at 1266.94

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Entering Asia session, gold seemed to struggle hard to continue the rebound in the morning following a good Chinese CPI report, while the US dollar was quiet. Currently gold is trading slightly flat at 1257.53, reversing direction rose to 1259.09, heights everyday. Gold remains in a better purchasing deals with the release of Chinese CPI data were better than expected, especially after bad Chinese trade report released yesterday.

Gold had won some support yesterday following China's September trade data showing a sharp drop in exports, reviving concerns about the health of the world's second largest economy.China September Exports fell 10 percent from a year earlier, much larger decline than the market expected. China adala top gold consumer world.

However, this increase is less impetus to get further support for dollar jumped back on the request against the major currency pairs of the world, after a brief correction decline yesterday due to profit taking. USD index traded up + 12:10% higher at 97.65.

All eyes are now looking to a speech from Fed Governor Janet Yellen and a pile of new US macro data, including retail sales and consumer sentiment, which will appear later in the North American trading session for new incentives. This yellow metal currently has the closest resistant at 1260 and 1264.50. While the support line is at 1250.53 and 1241.36.

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Gold price movements on Asian session observed to rise higher after the price of this commodity opened higher at 1252.85 in early trading (0000 GMT), the gold price is now rolling at 1255.35. The price of gold had strong resistant translucent.

 

Gold prices naturally rise by bargain hunting after the weekend trade market fell to a its lowest 5-month. But the projection of positive US economic data at the evening session can correct back the gold price, only if the result is good enough.  

 

Technically, the gold will actually fall down to the range between 1252.05-1249.34, but if it does not reach these ranges, then it can climb back towards the range between 1259.25-1267.42. So Analyst argued that the normal range XAUUSD pair today is expected to have the support level at 1240.52 and resistance level at 1268.86.

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Gold price movements on Asian session observed to ascend after the price of this commodity opened higher at 1255.10 in early trading, the gold price is now rolling at 1258.70. The price of gold had strong resistant translucent.

 

Gold prices Asian session still remains in the top rally and weigh on profit-taking that plagued US dollar against many of its main rivals. Besides the weakening dollar due to the re-emergence of doubt the market would be expected Fed rate hike in December, this sentiment is very sensitive to gold price movements

 

Technically, gold will continue to rise towards the range between 1262.55-1267.51, but if the price of this pair cannot reach that range then it will fall down to the range between 1252.49-1245.43. So the normal range XAUUSD pair today is expected to have the support level at 1241.45 and resistance level at 1263.54.

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Gold price movements on Asian session observed to move down after the price of this commodity opened higher at 1262.60 in early trading, the gold price is now rolling at 1260.75. The price of gold had strong resistant translucent.

 

The gold price was gained a better place by further weakening of its competitor, the US dollar, but fell back by solid Asian stock markets as the respond of stable Chinese second quarter GDP data. And until the evening session gold price fell back by the strength of US economic data were released in the evening session has the potential to elevate US dollar.

 

Technically, Gold will go down towards the range between 1258.28 -1249.26, but if it does not penetrate the range of the price of gold can rise back towards 1266.19-1269.46. So it coud be argued that the normal range XAUUSD pair today is expected to have the support level at 1245.00 and resistance level at 1275.28.