Gold near one-month high as dollar slips

[harreymartin]

Gold was trading near its highest in a month on Tuesday after gaining 3 percent the session before and breaking through key resistance at the USD 1,300 level.

A weaker dollar supported bullion prices, but stricter Indian import rules and continued outflows from exchange-traded gold funds could cap gains.

FUNDAMENTALS

* Spot gold was down 0.08 percent at USD 1,334.01 an ounce by 0020 GMT, while US gold fell USD 2.50 to USD 1,333.50.

* Gold hit a one-month high of USD 1,338.91 on Monday, as speculators fearing a reversal of the recent downward price trend rushed to buy back bearish bets.

* Bullion prices have garnered support from Federal Reserve chief Ben Bernanke's assurance last week that the US central bank would be careful in scaling back its USD 85 billion monthly bond purchases.

* September is still the most likely time for the Fed to announce that it will trim its monthly bond purchases, according to a Reuters poll taken after Bernanke's congressional testimony last week.

* Analysts have slashed their 2013 gold and silver price forecasts after sharp falls earlier this year and expect them to remain weak in 2014 as the United States reins in monetary stimulus, a Reuters poll showed on Monday.

Read more: Gold near one-month high as dollar slips | Trading Tips Expert

gold trading tips | share tips

 

[amit.neogi]

I read you blog and also am a trader of commodity market and am trading in Bullions and already i have a sell position of gold so if u know pls let me know that gold and silver price will remain fall or not..

 

[Yash Raj]

In my view Gold is one of the toughest investments for beginners, so that’s why we don’t need to do anything silly instead keep it straight forward, it is the only way we will succeed, if we don’t do that then we will struggle. I am working with OctaFX broker where they have got outstanding system with over 50 pairs to select from and most of them have low charges of spread that goes around 0.2 pips, so that makes it very easy.

 

[Rocky]

Gold is the ultimate judgment for the market, so if we are able to know where this is heading then we can trade well across the whole market, so that’s why it is so good if we focus on finding correct update about Gold, it can lead to success easily. I am lucky to not worry over this thanks to Nova FX broker where they have excellent daily market update feature available, I get perfection in trading thanks to that.