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  1. #1
    Legendry Member milos's Avatar

    The price of gold sharply dropped !!!

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    The gold price is moving near the lowest level in the last three weeks. On the New York Mercantile Exchange, gold for delivery in December dropped to $1361 per ounce. Support is likely to find at $1352 an ounce and resistance at $1400 at ounce. Price of silver for December delivery rose to $23.10 an ounce.

    Investors remain focused on meeting the Fed, which will be held on 17 and 18 September. It is expected that the central bank can reduce the ammount of monthly bond buying program.It is possible to fall in the gold of price in 2014 year due the acceleration of activities in the US and the monetary policy tightening. It is estimated that in 12 months price to reach $1175 an ounce.

    This month may be reduced monetary easing program. This reduce the demand for gold as an inflation hedge. The main reason for the decline is the market expectation that next week the Federal Reserve decided to cut the program of monetary easing.

    Federal Reserve official at the meeting of the institution on 17 and 18 September, the monthly program of buying government bonds worth $85 billion cut to ten billion dollars. Goldman Sachs predicted future decline rate. During 2013 the price of gold fell by 18% after 12 years of consecutive growth.


    Key levels

    1343 resistance
    1331 resistance
    1311 last
    1297 support
    1274 support

  2. #2
    Veteran Member Ammeo's Avatar
    There wont be a war in Syria as it seems as Russia is the main opposition to the war and Isreal is too close to Syria to get themselves smoked in the war. This may have a negative impact on Gold.

  3. #3
    Veteran Member hchandra's Avatar
    Same outlook, thinking that gold might dive again after the FOMC, but need to approach this cautiously because Fed never said will start tapering in September,
    it might be October, November, December.
    Same as the chart, the lowest support 1274 will play important role (I have 1270)

  4. #4
    Legendry Member milos's Avatar
    The price of gold has entered a consolidation as investors await the attention of Fed decision on a possible reduction of monetary easing. The two- days meeting of the Federal Open Market Committee begins today.

    Notes from the July meeting showed that the committee generally agreed with the plan’s Ben Bernanke to start reducing the bond buying program. Mixed economic data released in the US increased uncertainty on this issue.

  5. #5
    Legendry Member milos's Avatar
    Gold price continued to decline and dropped below $1300 an ounce. This is the lowest level in the last six weeks. There is speculation that the Fed will decide to reduce the bond buying program a a two-days meeting, which ends today.

    Since the beginning of this year the price of gold fell 23% because of uncertainty about future monetary incentives in the United States. During today's trading the price of gold fell to 0.98%.

    Key levels
    1334 resistance
    1318 resistance
    1302 last
    1291 support
    1279 support

  6. #6
    Legendry Member milos's Avatar
    Gold prices rose after the Fed made no changes to its stimulus program. The trend in gold prices this year, affecting the Fed moves. On the New York Mercantile Exchange for gold traded at $1366.10 dollars an ounce. Support is likely to be at 1,320 dollars an ounce and resistance at $1,387 an ounce.

    Fed's decision to continue with the current plan of monetary easing without reducing sharply weakened dollar which resulted in a rise in the price of gold. After growing by only 4% during yesterday's afternoon gold price has stopped growth and consolidated at $ 1,370 an ounce.

  7. #7
    Veteran Member hchandra's Avatar
    we are on the way to 1420 and 1480 then if no change happen, clear support at 1330


    I think until that long candle created after the fed broken, we will stay sideway, expecting bull to push the price further up.

  8. #8
    Legendry Member milos's Avatar
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    Gold prices fell for the first time in three days, which reduced the weekly increase. Yesterday good economic data was released in the US. It stopped the further growth of the price of the precious metal. Gold prices still supported the Federal Reserve's decision to maintain the current level of bond buying.

    Key levels
    1394 resistance
    1375 resistance
    1338 last
    1335 support
    1326 support

  9. #9
    Senior Member raymond09's Avatar
    Yeah, Price of the Gold sharply Dropped as it raised sharply. It happens with GOLD all the time. This is why I love to trade with GOLD. If you can simply take a proper position to place a order, you have the chance to make maximum profits from any Trade.

  10. #10
    Legendry Member milos's Avatar
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    Gold prices continued to fall. Citigroup and Morgan Stanley have been surprised by the Fed to continue monetary easing. According to the analysis of these two banks it is possible that the price of gold by the end of the year will fall below $ 1250 an ounce.

    As it is expected that economic data will be published in the United States and it will indicate that recovery.

    Key levels
    1375 resistance
    1356 resistance
    1325 last
    1307 support
    1291 support

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