Short-term gold traders are pressing the market to see how far it will go.
FORBES: Technical Trading: Gold Jumps In Overseas Action, Fitch Downgrades UK Credit Rating
Short-term gold traders will have opportunity, however, watch the hourly charts and use tight stops.
FORBES: Technical Trading: Gold Is Vulnerable In Short Term To Backing and Filling
Certainly, many gold traders and investors are unnerved by such volatile daily price action.
In recent weeks, gold traders have been jittery and quick to sell into strength.
FORBES: Technical Trading: "Spike Low" Offers Important Short-Term Support, Gold Stabilizes
This has prompted gold traders to book some profits heading into the weekend.
FORBES: A.M. Kitco Metals Roundup: Comex Gold Weaker on Profit Taking, Bearish "Outside Markets"
Also, gold traders continue to eye the Bank of Japan amid renewed hopes for additional monetary policy easing there.
FORBES: Technical Trading: Air Strikes, BOJ Easing Hopes Keep Short-Term Pattern Bullish For Gold
Many gold traders and investors are unnerved by such volatile daily price action.
FORBES: Comex Ends Lower on Follow-Through Pressure From Wednesday's Drubbing
Dollar and gold traders will be monitoring headline news closely on this issue.
FORBES: Technical Trading: Gold Signals Strong, Dip Buying Mentality Seen
Liquidation of trading positions by weak-handed long gold traders was also featured Thursday.
Given the stronger-than-expect jobless claims figures and other recent economic data, gold traders will watch to see if the trend continues.
FORBES: METALS OUTLOOK: Gold Likely To Test Lower End Of Range
Gold traders are still a bit unnerved by the sharp and rapid drop in Comex gold futures prices that occurred Wednesday morning.
It will be an interesting couple of weeks, and gold traders will be eyeing central bankers and take their cue from there.
FORBES: Gold, The Silent Killer: Yellow Metal's Up Big And Could Rally Further
Gold prices tend to rise amid expectations of Fed support, and, in previous weeks, gold traders had been shedding holdings of the precious metal.
Gold traders were also worried Tuesday that the CME Group would raise futures trading margins on gold, following a similar move this week by the Hong Kong exchange.
FORBES: Comex Gold Backs Off on Profit Taking After Hitting Another Record High of $1,917.90
On Monday the gold market benefited from the aforementioned situation, but on Tuesday gold traders are focusing a bit more on the stronger dollar and weaker crude oil prices.
FORBES: Comex Gold Moves Lower Amid Stronger U.S. Dollar, Lower Crude Oil
However, there is some lingering concern among gold traders that if Cyprus sells some of its official gold reserves to help finance its European Union bailout package, other countries like Italy, Portugal and Spain may do the same.
Key for the gold market traders is if the stock market weakness continues, will gold prices start to behave like a safe-haven risk asset, or will gold continue to follow the raw commodity sector lower?
FORBES: Gold Ends Solidly Lower on Bearish Outside Markets, Fresh Technical Selling
In the case of gold, traders see potential for a pick-up in Chinese inflation, which may trigger buying of gold as an inflation hedge by Chinese citizens.
FORBES: Chinese Data Sends Some Base, Precious Metals To Highest Levels In More Than A Month
The change in tax calculation would add between 70-100 rupees per 10 grams of gold, traders said.
Gold market traders are doing a bit of nibbling and bargain hunting after the recent selling pressure.
FORBES: Comex Gold Trades Near Steady, Attempts To Stabilize
Since the CME raised the margin downpayment required of gold derivative traders by one-quarter early in August ( widely reported, but hey, pundits take holidays too) leverage across-the-board in New York gold futures stands at 25-to-1.
FORBES: Nouriel Roubini Wrongly Compares Gold To Y2K Tech Bubble
There is talk in the gold market that many traders went short gold late last week, figuring that a U.S. debt deal would be reached before the August 2 deadline and gold prices would then back off significantly when the debt deal was reached.
FORBES: Comex Gold Powers to Another Record High; Bulls Now Eyeing $1,700.00
There has been recent talk in the gold market that many traders went short gold futures late last week, figuring that a U.S. debt deal would be reached before the August 2 deadline and gold prices would then back off significantly when the debt deal was reached.
FORBES: Comex Gold Powers to Another All-Time High on Strong Safe-Haven Demand
Gold and silver traders are awaiting fresh fundamental news to help give them some near-term price direction.
Gold and silver traders and investors are looking for some fresh news to better drive their markets.
FORBES: A.M. Kitco Metals Roundup: Gold Firmer, at 2-Week High, on Technical Buying, Short Covering
Gold and silver traders are very skittish as the past few weeks have seen sudden price downdrafts.
FORBES: A.M. Kitco Metals Roundup: Gold Firmer on Tepid Short Covering; Traders Still Wary
Gold and silver traders and investors are still looking for some fresh fundamental news to drive their markets.
Gold and silver traders and investors are still looking for some fresh fundamental news to better drive their markets.
FORBES: A.M. Kitco Metals Roundup: Gold Firmer Despite Bearish Outside Market Forces
That heavy selling likely accelerated the decline in gold prices, traders said.
Gold bears reminded traders Wednesday they still have the near-term technical advantage.
应用推荐