15.03.2012. 06:53 CET
COMM: GOLD : So it happened. I opted for lows and it come so quickly; and now we are in a very important moment : 50% - 61,8% Fibo of our peaks 1760-90. My arrow indicated level round 1635 per oz. and we where yesterday and during night exactly there. So here should be decided where market will go for next weeks! Reading all news and comms I have only one feeling where were all those analitics before this drop down? I heard only about bounce of gold. So this time I bet for change. Even a few dollars ( 28) sway should not change the picture. Correction was perfomed. Saying in economic words Fed said there are signals that US economy improving but frustrating is the slow peace of it. Anyway it was a signal is better and safer. gold down equities up. Is it?
Frankly I would like to see change of current temp.trend but there is also contradictory 3-crown formation which usually means only negative information, but i also saw 4-crown formations so...let's see what market will do.
http://www.kitco.com/reports/KitcoNews20120314JW_pm.html
"Tuesday afternoon release of the statement following the latest meeting of the Federal Open Market Committee. The Fed acknowledged an improving U.S. economy with still-low inflation expectations. The statement further squelched talk the Fed will implement another round of what would likely be commodity-market-bullish quantitative easing. The precious metals got a second punch Tuesday afternoon when J.P. Morgan announced it had passed the government’s stress testing and was declaring a dividend as well as paying back a big chunk of government loans. Investor risk appetite has up-ticked significantly following Tuesday afternoon’s developments, which has hurt gold and also the safe-haven U.S. Treasury market."
Frankly I would like to see change of current temp.trend but there is also contradictory 3-crown formation which usually means only negative information, but i also saw 4-crown formations so...let's see what market will do.
http://www.kitco.com/reports/KitcoNews20120314JW_pm.html
"Tuesday afternoon release of the statement following the latest meeting of the Federal Open Market Committee. The Fed acknowledged an improving U.S. economy with still-low inflation expectations. The statement further squelched talk the Fed will implement another round of what would likely be commodity-market-bullish quantitative easing. The precious metals got a second punch Tuesday afternoon when J.P. Morgan announced it had passed the government’s stress testing and was declaring a dividend as well as paying back a big chunk of government loans. Investor risk appetite has up-ticked significantly following Tuesday afternoon’s developments, which has hurt gold and also the safe-haven U.S. Treasury market."
http://news.ninemsn.com.au/article.aspx?id=8435457
Gold prices may slip to $US1,630 an ounce in the near term, Standard Bank's head of commodity strategy Walter de Wet said in a note.
Barclays Capital said that the economy would "either need to suddenly slow or inflation to decline more than the Committee expects before additional asset purchases are initiated" and it doesn't forecast further easing this year.
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