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  1. #1
    Junior Member

    Gold Little Changed Near 3-week High with Bernanke in focus !!!

    Gold futures were little changed near a three-week high on Tuesday, as investors stuck to the sidelines ahead of testimony to Congress by Federal Reserve Chairman Ben Bernanke on Wednesday.

    On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at USD1,280.95 a troy ounce during European morning hours, down 0.2% on the day.

    Comex gold prices held in a tight range between USD1,275.95, the daily low and a session high of USD1,283.85 a troy ounce.

    Comex gold prices rose to a three-week high of USD1,297.05 a troy ounce on July 11.

    Gold futures were likely to find support at USD1,237.05 a troy ounce, the low from July 8 and near-term resistance at USD1,301.75, the high from June 21.

    Market participants were looking to Bernanke's testimony on monetary policy for further clues on the future of U.S. monetary policy.

    Gold prices rallied 5% last week, the biggest weekly gain since October 2011, after Bernanke said the central bank will continue to maintain accommodative monetary policy for the foreseeable future.

    Investors now looked ahead to the release of U.S. data on consumer price inflation and a report on industrial production.

    Read more: http://www.indianotes.com/xchange/blogs/3618/4571

    gold trading tips | best commodity tips

  2. #2
    Senior Member raymond09's Avatar
    So right your analysis are. I am holding my position in Gold from 1.2995. I am looking for a reverse which will let Gold move to it support point. Waiting for a moment to Earn some Big amount of Pips.

  3. #3
    Veteran Member Ammeo's Avatar
    The gold ATM MACHINE is looking great to short near open of next session. But might want to let it trade up abit to top of the range first. The columbian liquid gold ATM machine (aka coffee) is still in repairs but may soon be fixed and be all ready again for dispensing cash.

  4. #4
    Solid Member
    After opening today's market, Gold has moved a lot higher. Now its position is at 1314+. by my analysis I am thinking of little hit higher position for Gold. It could be go to 1245+ point and then again will take reverse position.

  5. #5
    Veteran Member Ammeo's Avatar
    By the way a top market analyst has said Gold's real (manipulation or hype-free) price is $800/oz....it may be going up for a while but its still overvalued...

  6. #6
    Legendry Member milos's Avatar
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    Gold price continued to rise during the four day yesterday reached the monthly maximum. The rise in prices of the precious metal remains a dominant influence statement last week's Federal Reserve Chairman Ben Bernanke that the Fed changes monetary policy is closely linked to the economic results that are still unsatisfactory. After crossing the psychologically important threshold of $1300 per ounce price has managed to maintain despite the fact that on an annual basis decline.According to the World Gold Council supplies from the recycling are likely to fall 25% this year to lower price affected owners to reduce sales even as demand for physical gold has increased? How do you like it my new precious yellow charts? Real gold.

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