Gold Prices Rise
Gold prices rose in late trading yesterday after comments from European Central Bank pushed the euro higher.
Eurozone currency jumped as much as 1 percent against the dollar after the ECB chief Mario Draghi said the bank’s policy work to stimulate economic recovery. However, they failed to sustain gains, so that pressing higher gains in the precious metal.
Gold prices rose 0.4 percent at $ 1,248.21 per ounce, but far below the initial position five-week high of $ 1,270.10. While the price of US gold futures for June delivery fell 0.3 percent at $ 1,249.
Index to 19 markets Thomson Reuters CoreCommodity dropped as much as 1.2 percent after rising to 4.5 months, with oil prices reversed early gains and the US dollar turned higher against a basket of other major currencies.
Head sturdy ECB kept its policy banks print money and keep borrowing costs down and said interest rates will remain at record lows this moment for a long time.
The world gold holdings – Exchange-traded fund, SPDR Gold Shares New York, has seen an outflow of 14 tonnes so far this week, while the silver ETF holdings have soared.
Silver prices slipped sharply from 11-month peak on Thursday as the dollars rebound prompted traders took profit.
Platinum futures prices fell 0.1 percent at $ 1,026.90 an ounce and palladium futures prices rose 1.27 percent to $ 604.65.
Tonight will be released economic data Markit Flash US Manufacturing PMI in April which indicated stronger.
Technically,
Resistance: 1247.10 1249.80 1251.50 High / Low: 1249.90 / 1243.60
Support: 1241.00 1239.40 1237.00 Running Price: 1245.80
Comment: For intraday trade today suggest Sell 1248.00 stop loss at the level of 1250.50 the target at the level of 1238.00.
Nikkei Index Corrected
Japanese stock indexes fell from highest level in 11 weeks on Friday as the yen is maintaining its gains and earnings from technology companies ranging from Sony Corp to stop the rally Alphabet Inc stock indexes in Tokyo and New York.
The Nikkei index fell by 90 points or 0:52% at 17290 at 8:07 pm. The yen this morning traded at 109.34 per dollar after rising by 0.4% on Thursday, it was the first since last week’s gains. Cessation of global smartphone demand has hurt annual earnings growth of Sony Corp, while the parent company Google, Microsoft reported Alphabet and analysts after the market close that the results are below estimates.
Analysts from Nomira Holdings Inc. in Tokyo said that after a strong rally, the US stock index be corrected, which was weighing on the Japanese stock index. US corporate earnings results are less encouraging, so it is not difficult for investors to take profits in the US stock indexes. Investors also began to cut positions ahead of the weekend.
Technically,
Resistance: 17330 17400 17510 High / Low: 17325/17170
Support: 17200 17110 17 060 Running Price: 17 275
Comment: For intraday trade today suggest Buy 17200 stop and reversal if break below the target level of 17 150 and 17450 and reversal target at 17000.
Aussie Gains Crawling
Australia Australian Dollar started moving higher after falling lower than the previous session, Friday (22/4).
AUDUSD rose 12:37% at the level of 0.7766. In economic news, the Australian NAB business index fell a quarterly report on the level of 4 points in the first quarter, compared with 5 points in the previous quarter. Earlier this week, the RBA released the minute policy meeting in April.
The central bank as well as on many occasions that would cut interest rates if warranted by economic conditions. Policymakers also expressed concern about the appreciation of the Australian dollar which has risen 9.5 percent since February 1.
Solid business surveys lately steer the market on the assumption that it is unlikely for the Australian Central Bank to lower interest rates again despite the Australian dollar jumped to a high level 10 months later in the recent past.
Technically,
Resistance: 0.7790 0.7830 0.7870 Prev. High / Low: 0.7768 / 0.7738
Support: 0.7700 0.7650 0.7600 Running Price: 0.7753
Comment: For intraday trade today suggest Sell 0.7790 0.7825 stop loss at the level of the target at the level of 0.7692.
