Gold eased slightly on Monday but remained near six-month highs. Silver hit a five-month high as expectations increase that the Federal Reserve will announce new stimulus measures this week. Other commodities such as palladium and soybean rose while turmeric and crude oil fell. Charts for gold and silver show bearish downward trends, suggesting investors should sell on rises in price.
2. HEADLINES
Gold eases but hovers near 6-month high.
Gold eased on Monday as investors took profits, but the
metal stayed near six-month highs after last week's
disappointing U.S. payrolls data boosted hopes that the
Federal Reserve could unveil new stimulus as early as
Thursday. Palladium also rose 3 percent on better
TRADING TIPS: demand expectation after encouraging Chinese vehicle
sales data.
Sell Crude Oil below
5310 Weak Chinese trade data also prompted the bullion
selling following three consecutive weeks of sharp
TGTS- 5285/5270
gains, which were accelerated by the European Central
SL- 5330 Bank's bond-buying program last week and possible
new Fed actions to stimulate an ailing economy at its
two-day policy meeting concluding on Thursday.
PAST
PERFORMANCE Silver Price Hits Multi-Month High
The price of silver reached a 5-month high this past
Sell Crude below week as investor interest seems to have been rekindled
5315 in both gold and silver as belief in financial markets
increases that the latest round of monetary easing from
TGT 5290/5275 the Federal Reserve – QE3 – will soon be on its way.
SL 5340 Many investors had largely stayed away from silver in
recent months after some had got caught up in its
TARGET volatility. Silver had touched a 30-year high in April
ACHIEVED 2011 before plunging 35 percent in a few short weeks.
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