Gold Price Analysis As At January 4 (updated) - forex trading institute in kolkata

Gold Price Analysis As At January 4 (updated) ~ forex trading institute in kolkata

How Do We Determine Gold Price Direction?

The Gold Price is difficult to forecast at this time as there are many factors in play.

Gold has been trading quietly recently and any gold analysis is going to have to be a bit speculative as no direction has been established except for bearish.

Recent developments in the Middle East have triggered a rise in the market today, we will have to wait to see if it is going to be significant.

A Technical Look at the Gold Price.

I have three charts to look at, they all show similar.

The Point and Figure chart is showing that Gold is building a base, however no clear sign of direction.

And this chart is showing similar, there is no movement out of the range.

The Renko chart is showing possibly oversold at this time and definitely no sign of a recovery in the gold price.

Here are some articles reflecting opinions on the market from recent days.

Interesting to note that the price of gold fluctuates inversely to the markets in Asia.

Gold prices fall for a third year in a row - Sky News Australia
Sun, 03 Jan 2016 22:03:00 GMT
Sky News AustraliaGold prices fall for a third year in a rowSky News AustraliaGold prices a bit higher on Thursday, ending the year down 10 per cent for its third straight annual decline. The metal also faces another potentially challenging year in 2 ...
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PRECIOUS-Gold rises on higher oil prices, Middle East tensions - Reuters
Mon, 04 Jan 2016 00:58:46 GMT
ReutersPRECIOUS-Gold rises on higher oil prices, Middle East tensionsReutersSINGAPORE, Jan 4 Gold inched up on Monday, bolstered by a jump in oil prices and safe-haven bids from rising geopolitical tensions in the Middle East. FUNDAMENTALS * Spot gol ...
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Gold punters better off mounting bearish bets - Economic Times
Sun, 03 Jan 2016 22:32:11 GMT
Gold punters better off mounting bearish betsEconomic TimesMUMBAI: Gold bugs might have luck coming their way as the metal could trade at the lower end of a Rs 24,740-25,914 per 10 gm band in the first month of the New Year because of a stronger doll ...
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Gold Likely to Stay Tarnished in 2016 - Barrons
Sat, 02 Jan 2016 03:14:38 GMT
BarronsGold Likely to Stay Tarnished in 2016BarronsBeaten-down gold is unlikely to tempt many investors in 2016, as markets wait for an indication of how far and how fast the Federal Reserve will raise interest rates. Gold finished 2015 near a six- ...
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7 Predictions For 2016: Gold, Energy, Equities, Bitcoin - Seeking Alpha
Sun, 03 Jan 2016 12:43:00 GMT
7 Predictions For 2016: Gold, Energy, Equities, BitcoinSeeking AlphaDespite my hesitation in writing another piece like this, people seem to love prediction articles. It used to be an easier task to simply identify and go with the trends, but so much ...
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Gold Up as Saudi Tension Spurs Investors Return to Haven Assets - Bloomberg
Mon, 04 Jan 2016 02:27:36 GMT
Gold Up as Saudi Tension Spurs Investors Return to Haven AssetsBloombergGold advanced as escalating tension between Saudi Arabia and Iran prompted a return to haven assets. Bullion for immediate delivery climbed as much as 0.5 percent to $1,066.04 an ...
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