Gold Prices Bounce Back is Limited

Gold prices bounce back is limited, amid rising risk when the World Bank downgraded its global growth prospects for 2014. Prune World Bank The World Bank cut its global growth expectations for this year to 2.8%, from 3.2%. They expect the European economy to grow around 1.1%, as well as the U.S. pared to 2.1%, from 2.8%. Stocks and Bonds stocks reacted negatively to the news of global economic and bonds so as to encourage safe-haven demand. The difference in interest rates kept on 10-year Treasuries / bund around 123 bps, which is the highest level of eight years and the difference 10-year Treasury and 10-year JGB was at 202 bps has been the market's attention. Risks that looks pretty too mispriced at this time when money is flowing into the FX market and U.S. bond yields look attractive enough so as to support the greenback and in turn limits the potential increase in the gold market for the time being. Gold could show strengthening prices on Wednesday morning, and even raises the possibility of hope short-covering rally. Physical gold market in Europe is still quite excited when attention shifted traders seem to U.S. economic data. Stock markets in Europe, Asia and the U.S. mostly moved lower after cut global growth forecasts by the World Bank. The price of gold will be and has acted as a hedging tool decent on the stock market over the past year and weakness in the equity movement will attract some bids back into the gold market. Technical On Wednesday the movement, opened the gold trade in the range of USD 1259.86 per troy ounce. Since the opening of the market, the gold price was down slightly with move down toward the lowest daily price in the range of USD 1257.60 per troy ounce. Gold prices bounce back and move up towards the highest daily price in the range of USD 1265.16 per troy ounce. Finally, the movement of gold in the cap in the range of USD 1260.79 per troy ounce. The movement of gold back slightly against the dollar benefit as much as USD 0.83. In general, the movement of gold in the 4-hourly chart looks back in bearish condition. Gold prices are still visible above the simple moving average indicators 20 and 50 are a support area for the movement of gold. Indicator relative strength index (RSI 14) at the level of 60 to give an indication of prices in a state of minor bearish. 

Likewise, the momentum indicator 14 gives an indication of the minor bearish move. The intraday bias, the price movement of gold in 4-hourly charts are still in bearish conditions and the current rebound in gold prices seen consolidating above support area where there is the possibility of the price going up. Rupture resistance at USD 1266.86 per troy ounce to USD 1282.94 an opportunity resistance per troy ounce in touch by price movements. Conversely, if the price of gold fell against the dollar to break through support at USD 1256.92 per troy ounce gold price trend will open up move down towards the next support in the range of USD 1240.84 per troy ounce.

By: Admin Antam Gold

- You are reading an article entitled Gold Prices Bounce Back is Limited written by antam gold prices which contains about:

If you like the article on this blog, please subscribe free via email, that way you will get a shipment every article there is an article that appeared in antam gold prices

0 comments:

Post a Comment

Back to top