|Day's Range||1,276.00 - 1,283.00|
Spot gold was down 0.2 percent at $1,277.24 per ounce by 0313 GMT, after touching its lowest since Dec. 28 at $1,276.31 on Monday. U.S. gold futures fell 0.4 percent to $1,277.20 per ounce. A weaker euro and concerns around growth in Europe have given a leg up to the dollar, pushing gold prices down below key level of $1,280," said Kyle Rodda, market analyst with IG Markets.
Based on last week’s price action and the close at .6744, the direction of the NZD/USD this week is likely to be determined by trader reaction to the 50% level at .6781.
Based on last week’s close at 109.774, the direction of the USD/JPY this week is likely to be determined by trader reaction to the main 50% level at 109.695.
The S&P 500, as well as the other indices in the United States were closed during the trading session on Monday, although we did have futures electronic trading in the Globex. That being the case, volume was very light so I would read too much into the daily candle.
Silver markets pulled back a bit during the trading session on Monday and what would have been thin trading due to the Martin Luther King Junior holiday. That being the case, I don’t read too much into the negativity and I do think that there is plenty of support below.
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Crude oil markets rallied again in what would have been fairly quiet trading during Martin Luther King Jr. holiday in the United States. There is major resistance just above, but it looks as if the market has formed a massive bottoming pattern.
Natural gas markets of course were very quiet during the holiday session as Martin Luther King Jr. holiday in America had a lot to do with the lack of volatility and volume. I being the case, we must look at the longer-term outlook for natural gas to see where to go next.
Gold markets pulled back a bit during the trading session on Monday, in what would have been relatively thin trading. We did find support at the $1280 level, which is a good sign as it is so important.
Canada's main stock index fell on Monday in broad-based declines led by shares of material companies echoing a weaker tone on global stock markets after data showed economic growth in China for 2018 was ...
Stronger than expected Chinese retail Sales and Industrial production also buoyed global yields weighing on gold prices. Momentum has recently turned negative as the MACD (moving average convergence divergence) index generated a crossover sell signal. This occur as the MACD line (the 12-day moving average minus the 26-day moving average) crosses below the MACD signal line (the 9-day moving average of the MACD line.
Rangebound price action to continue during American market hours amid thin trading volume as US market is closed for the day.
Futures for Canada's main stock index edged lower on Monday as oil prices dropped after data showed the Chinese economy slowed last year. March futures on the S&P/TSX index were down 0.22 percent at 6:55 ...
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Based on Friday’s price action and the close at 24687, the direction of the March E-mini Dow Jones Industrial Average on Monday is likely to be determined by trader reaction to the 50% level at 24234.
This week, the price action in gold will continue to be driven by the movement in U.S. Treasury yields and appetite for risk. Rising yields and stock prices should dampen demand for gold. Technically, traders may try to pressure sell stops under the recent low at $1278.10. If successful, they could trigger a break into $1268.50. All bets will off for a steep break if buyers can recapture $1289.20.
Based on Friday’s price action, the direction of the February Comex gold futures contract on Monday is likely to be determined by trader reaction to the major 50% level at $1285.70.
Based on Friday’s upside momentum, the direction of the March Brent crude oil futures contract on Monday is likely to be determined by trader reaction to the previous main top at $62.47.
Based on Friday’s close at $3.239, the direction of the March Natural Gas futures contract on Monday is likely to be determined by trader reaction to the 50% level at $3.215.
NEW YORK (Reuters) - * The Toronto Stock Exchange's S&P/TSX rose 92.61 points, or 0.61 percent, to 15,303.83. * Leading the index were Cronos Group Inc , up 8.7 percent, NFI Group Inc , up 7.8 percent, and Descartes Systems Group Inc , higher by 3.5 percent. * Lagging shares were New Gold Inc , down 6.6 percent, OceanaGold Corp , down 6.5 percent, and Eldorado Gold Corp , lower by 5.6 percent. * On the TSX 149 issues rose and 88 fell as a 1.7-to-1 ratio favored advancers. There were 4 new highs and 1 new lows, with total volume of 293.5 million shares. ...
Fortuna Silver Mines Inc. (FSM) (FVI.TO) fell 0.57% to $3.51 per share on the New York Stock Exchange and declined 0.43% to 4.65 Canadian dollars ($3.51) per share on the Toronto Stock Exchange after releasing production results for fiscal 2018. Warning! GuruFocus has detected 2 Warning Signs with FSM.
(Reuters) - Canada's main stock index rose on Friday, set for its fourth straight weekly gain, as an increase in oil prices lifted shares of energy companies. * At 9:32 a.m. ET (1432 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 87.31 points, or 0.57 percent, at 15,298.53. * The energy sector rose 1.1 percent, the most among the index's 11 major sectors. * U.S. ...
In January, ProShares changed its silver and gold ETFs to track futures-based indexes. This marks the first time leveraged and inverse ETFs will benchmark to gold and silver futures prices. ) are changing their benchmarks from the LBMA (London Bullion Market Association) silver and gold auction prices to Bloomberg Commodity Subindexes.