Get 40% Off
🔥 This hedge fund gained 26.16% in the last month. Get their top stocks with our free stock ideas tool.See stock ideas

Gold Continues To Settle Above 1200

Published 03/15/2017, 02:58 AM
Updated 04/03/2024, 10:12 AM
XAU/USD
-
XAG/USD
-
GC
-
SI
-
DXY
-

April gold futures continues to settle above the 1200 level by the barest of margins. The market has endured a $60.00 break from the February highs due to increased expectations of a interest rate hike of a quarter point that could be announced tomorrow afternoon at 1:15 CST. Long liquidation in both energies and metals has been the theme over the past week as asset managers unwind the reflation trade.

The U.S. dollar has gone bid along combined without a meaningful correction in equities that has resulted with longs bailing in both gold and silver. Basis April gold futures, the January 27th low of 1182.6 needs to hold, or the 2017 low of 1149.7 could be seen under further fund liquidation in my opinion. My swing numbers for the remainder of the week come in as follows.

R2-1254.9
R1-1229.7
Pivot-1212.1
S1-1186.9
S2-1169.3

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.