Gold Price Forecast 28 January 2014

tocks market buying in the S&P 500 stock index (SPX) posted new nominal record highs in 69 out of 252 trading sessions in 2013. Aggressive boostings in SPX value attracted investors. Traders stock dumped their GLD-ETF shares to shift that capital into general stocks. The higher the SPX moved the more Traders wanted to buy in to include the flow, and the gold prices fell lower and lower till 1180 per troy ounce.

gold price forecast

Gold price moved negatively yesterday. Continue reading →

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Gold Price Forecast 27 January 2014Gold,Silver,Crude Oil Forecast based on Technical Indicators | Gold,Silver,Crude Oil Forecast based on Technical Indicators

Gold prices were bearish in the start of last week however bounced again to form a hammer. This is the fourth hammer in a row and hammers in a row don’t happen very often. we think that Gold price getting a bit of buying pressure

Though the link on the website has removed but the news still exits that China is running out of cash. One of the bank representative said that it is a system maintenance and domestic transfers delayed through February 2 and foreign currency transfers delayed until February 7. It is a common trend that the bank do system maintenance during holidays throughout the world.

Gold Price can  move higher to 1294-1301 is in play but we expect a pull back from here.

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Silver Price Forecast 24 January, 2014

Silver followed gold and moved high after closing near the psychological support of 20.00. As we discussed last week that silver will be bullish after 20.340. Silver failed to hold higher price levels in recent history. We stopped out at break even today just before opening the US session. Just like yesterday prices moved higher before opening US session and rest of the time there was correction only. We expect that same pattern today too.

Yesterday we observed high volatility with the spread of news that India is going to change his policy about taxes on gold import.

Silver Price Forecast 24 January, 2014Gold,Silver,Crude Oil Forecast based on Technical Indicators | Gold,Silver,Crude Oil Forecast based on Technical Indicators