Commodity Technical Outlook: COMEX

GOLD Gold dropped lower overnight to open at 1203.50/1204.50. It briefly touched a high of 1208.00/1209.00 as the Euro strengthened against the Dollar. It then declined to a low of 1203.00/1204.00 following strong U.S. data that pointed to an increase in pending home sales and factory activity while global equities climbed to a six-year high. Quiet trading in the afternoon led the metal to close at 1204.00/1205.00.  Gold is weaker...

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COMEX: Commodity Technical Outlook

GOLD Gold moved higher overnight to open at the session low of  1210.00/1211.00. The metal then climbed to a high of  1218.75/1219.75 on low volumes as the Euro appreciated against  the Dollar and major world equities rallied while U.S. government  bond yields rose to a two-and-a-half year high of 3.02 percent,  which is indicative of an improving economy and supports  expectations that the Fed will continue...

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Commodity Technical Outlook: GOLD SILVER COPPER CRUDE

GOLDGold edged higher overnight to open at 1201.00/1202.00. It  dropped slightly to a low of 1200.00/1201.00 before climbing to a  high of 1205.50/1206.50 on low volumes ahead of Christmas as  positive U.S. data pointed to an increase in sales of durable goods  while the monthly home price index increased slightly. The metal  traded within range for the rest of the day before finally closing at  1204.00/1205.00. Gold ...

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Gold Silver Copper Crude: Commodity Technical Outlook

GOLD Gold edged lower overnight to open at 1201.50/1202.50. It rose slightly to an intra-day high of 1203.50/1204.50 as strong U.S. data pointed to an increase in personal consumption. Thereafter the metal dropped, while global stock markets rose to record highs, to finally close at the session low of 1997.00/1998.00. Gold closed lower today at 1198. Support is at the major low of 1180, with resistance at Thursday’s high around 1227. RSI...

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Gold Silver Copper Crude: Overnight Commodity Technical Outlook

GOLD Gold moved marginally higher overnight to open at  1232.00/1233.00. It touched a low of 1227.50/1228.50 as U.S.  government debt declined following strong U.S. housing data that  showed housing starts in November 2013 climbed to its highest  level in nearly six years. The metal then climbed to a high of  1237.50/1238.50 as the dollar steadied and consolidated later in  the afternoon to finally close at 1235.00/1236.00. Gold...

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GOLD SILVER COPPER CRUDE: Commodity Technical Outlook

GOLD Gold moved lower overnight to open at 1231.50/1232.50. It  climbed to a high of 1242.50/1243.50 as the U.S. Core Price Index  remained flat and global stocks dipped. It then declined to a low of 1227.00/1228.00 as investors turned cautious ahead of the  two-day FOMC meeting starting today as speculation continues on  the timing of the tapering down of the Fed’s monthly bond-buying  program. The metal concluded...

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