|Day's range||1,255.20 - 1,264.50|
BENGALURU/MUMBAI (Reuters) - Gold demand in most Asian centres firmed this week, spurred on by a dip in prices although buyers in the world's second-biggest consumer India held off buying in the hope of further falls. Prices below $1,250 an ounce a clear buy signal for many," said Cameron Alexander, an analyst with Thomson Reuters-owned metals consultancy GFMS. Premiums were higher in anticipation of tighter supplies in Asia towards the year end, as most gold refineries shut for the Christmas and New Year holidays, traders said.
At this point, it looks as if Bitcoin Gold will continue to go higher, and we are testing the middle moving average on the Bollinger Bands, one-hour timeframe. DASH fell after initially trying to rally during the day on Thursday as well, as the $1000 level offered a significant amount of resistance. Because of this, I think that the market participants will start buying again, as the market has been grinding higher and reaching towards the psychologically important $1000 handle.
Investing.com – Crude oil prices settled higher on Thursday, shrugging off data forecasting a faster than expected rise in US shale oil production next year, while an ongoing pipeline shutdown supported Brent crude prices.
NEM stock is being covered by 18 Wall Street analysts today, of which 61% recommend a “buy” for the stock, while 39% recommend a “hold.”
Investing.com – Gold prices traded close to session highs on Thursday, shrugging off a rebound in the dollar as the European Central Bank said it would continue its ultra-accommodative monetary policy measures.
Agnico Eagle Mines has risen 1.5 %year-to-date. Barrick Gold, Eldorado Gold, and Harmony Gold reported year-to-date losses of 11.7%, 60.9%, and 21.3%, respectively.
Investing.com - Crude oil prices were mixed on Thursday, as concerns over rising U.S. shale production persisted despite ongoing supply cut efforts by global oil producers.
Investing.com - Gold prices trimmed gains on Thursday, after the release of upbeat U.S. data but the precious metal remained supported near one-week highs as the Federal Reserve's latest policy statement continued to weigh on the U.S. dollar.
Investing.com – Oil prices showed mixed trade on Thursday after two-straight sessions of declines as market participants continued to weigh the battle between the Organization of the Petroleum Exporting Countries’ (OPEC) attempts to curb global supply while U.S. shale producers continued to ramp up output.
The Federal Reserve surprised no one when they hiked their interest rate by a quarter of point yesterday. The Pound and Euro responded with gains. The Bank of England and European Central Bank will release their monetary statement today.
The gold prices were quite stable during the Wednesday’s session as it hovered around the $1250 level which has been a fair value of the market over the long-term charts. The market is likely to fall lower a bit towards the $1225 level, probably $1200 level underneath as the dollar will start to gain some value post the rate hike by Fed. This will essentially have a long-term impact on the prices of gold which could give directions to the market for the next year. The silver prices initially went sideways during the yesterday’s session but later found some bullish pressure later in the day.
Wednesday’s technical closing price reversal bottom may be a sign that the buying is stronger than the selling at current price levels. A trade through $2.763 will confirm the chart pattern. This could trigger the start of a 2 to 3 day rally with $2.940 the first major upside target.
WTI prices haven’t moved much in a month. This may change if the hedge funds decide they want to keep their money out of a sideways market and put it to work in another market that is trending.
DAX index continues to range and consolidate as we head towards the end of the year when the ranges are expected to get even tighter
The U.S. Dollar tumbled against a basket of currencies on Wednesday after the U.S. Federal Reserve raised interest rates as expected, but left its rate outlook for the coming years unchanged.
Bitcoin Gold, DASH, and Monero were all volatile during the trading session, but the crypto currency markets continue to be a bit muted in their overall range. Because of this, the markets look as if they are waiting to see what they are going to do if the Federal Reserve involving the US dollar. This will cause and effect in these markets as well.
The S&P 500 continues the upward momentum, and after the interest rate announcement during the trading session on Wednesday, it looks as if the uptrend should continue.
Investing.com - Crude oil prices held gains in Asia on Thursday despite slightly weaker Chinese industrial output figures as refinery throughput held strong and domestic crude output dipped.