Wealth Exchange Pvt. Ltd.

07/05/2013

Pivot: 1463.00

Our preference: LONG positions above 1463 with 1486 & 1491.5 as next targets.

Alternative scenario: The downside pe*******on of 1463 will call for 1441 & 1418.

Comment: the RSI is mixed.

Trend: ST Bearish; MT Bearish

Key levels Comment

1507** Intraday resistance
1491.5** Intraday resistance
1486*** Intraday resistance
1464.49 Last
1463*** Intraday pivot point
1441** Intraday support
1418** Intraday support

26/02/2013

Trading signals for Tuesday 26-02-2013
GOLD SHORT
Entry-Limit Sell 1602.00
Limit BUY 1590.00
Stop BUY 1606.00

26/02/2013

Gold prices rose in U.S. trading on Monday amid market whispers that Federal Reserve Chairman Ben Bernanke will downplay inflationary side effects of the U.S. central bank's loose monetary policies.
Gold gains on market talk Bernanke will downplay policy side effects

Bernanke will deliver his semiannual testimony on monetary policy to the Senate Banking Committee on Tuesday and a subsequent address before the House Financial Services Committee on Wednesday.

On the Comex division of the New York Mercantile Exchange, gold futures for April delivery were up 1.09% at USD1,590.00 a troy ounce in U.S. trading on Monday, up from a session low of USD1,574.80 and down from a high of USD1,593.80 a troy ounce.

Gold futures were likely to test support USD1,554.80 a troy ounce, Thursday's low, and resistance at USD1,618.70, the high from Feb. 18.

The Federal Reserve is currently running a USD85 billion monthly bond-buying program, a monetary stimulus tool known as quantitative easing that weakens the dollar to spur the economy, which pushes up gold prices as a side effect.

The Fed has also said that interest rates will remain near zero for some time to come.

Market talk that Bernanke will downplay concerns that the such stimulus measures will pump up inflation rates and swell asset bubbles bolstered gold's appeal.

Elsewhere, Italian electoral uncertainty failed to seriously dampen gold's rally.

Exit polls showed former Prime Minister Silvio Berlusconi’s center-right party taking 31.7% of the votes in the Senate race, with the center-left Democratic Party trailing with 29.5%.

Outgoing Prime Minister Mario Monti’s centrist coalition received just 8.5% of the votes.

Government officials began counting votes after polls closed at 3 p.m. local time, and preliminary results were expected by Tuesday.

Markets are interpreting a Berlusconi victory as a stepping stone to a dismantling of austerity measures, which could send the dollar rising.

Gold and the dollar tend to trade inversely from one another.

Meanwhile on the Comex, silver for May delivery was up 1.92% and trading at USD29.068 a troy ounce, while copper for May delivery was up 0.35% and trading at USD3.563 a pound.

25/02/2013

Gold price technical analysis 25 – February, 2013, Gold / U.S. dollar retreated during the week, where he received the U.S. dollar on the widely force.Technical selling pressure increased significantly after the pair broke below the level of $ 1625 USD/Ounce.

The level of $ 1625 USD/Ounce, which has also covered the prices during the last summer was an important level for many technical analysts, and as a result, continued gold prices retreat sharply and was also able to hack below the bottom line of the bearish channel which moves the pair moves in since October 2012.

In addition to the technical picture strongly moved to the downward channel, the concerns about the Federal Reserve Bank of amending the pace of asset purchases monthly, provided enough power for the downward movement to the block level low for the month of July 2012 at 1555.

For the third consecutive week, traders speculating in Chicago Mercantile Exchange (CME) have cut their positions long net, as data showed the “Committee for futures trading of commodities” (CFTC) on Friday, cementing expectations that the pair is preparing to drop more .

Pattern on the daily chart indicates that the pair of gold / U.S. dollar will see some consolidation between 1605 and 1555 almost. Higher, there will be resistance at $ 1587, $ 1597.77 and 1604 USD/Ounce. If they fail upward movement in raising prices to above $ 1604 USD/Ounce, it is likely that the pair will re-visit the support at $ 1555 USD/Ounce.

From a daily perspective, we can find support at the bottom at $ 1570 and 1563.60 USD/Ounce. Hack below the level of $1555 will boiled indicates that upward movement will not give up before we get to the bottom of the large area of consolidation that happened to be at 1530/25. If what has been a breakthrough support at this level, this is a matter the start of a major sell-more serious.

Will be the focus this week on the Fed Chairman “Ben Bernanke” again. Participants in the gold markets will be looking to get clarification from the last minutes of the meeting the Federal Open Market Committee when he presents Mr. “Bernanke” testimony before a committee of Congress on Tuesday and Wednesday.

we will watch a slide rise today for gold price to reach the level of $1600 USD/Ounce

23/02/2013

Over the past five years we have seen gold either complete an intermediate cyclical top or bottom in each February. My forecast was for this February to be no different and for gold and silver to make trough lows this month. I did not expect the drop in gold to go much below $1,620 per ounce at worst, but in fact it has. Where does that leave us now on the technical patterns and crowd-behavioral views?First, let’s examine the last five years. You can see the tops and bottoms in the chart below:

That brings us to today's $1,573 spot pricing as we try to determine where the next move will be. To help with that, some of our work centers on Elliott Wave Theory, along with fundamentals and traditional technical patterns of course. In this case, the recent action around gold has been very difficult to ascertain. That said, one pattern we can surmise is a rare Elliott formation known as the “Double Three” pattern. Essentially you have two ABC type moves and, in the middle, what is dubbed an “X” wave, which breaks up the ABC’s on each end of the pattern. For sure, if we add in traditional technical indicators along with sentiment, we can see very oversold levels coupled with the potential Double Three pattern and we probably start getting long here for a trade back to the $1650’s as possible:

Obviously this chart shows oversold readings in the lower right corner using the CCI indicator. That said we would like to see $1550 hold on a weekly closing basis to remain optimistic for a strong rebound.

David Banister

22/02/2013

Gold fall as a comet in the last 30 days, gold was used to be the safe investment but now a days, investors did not see it as it was before, gold declined through the last year by 10.35% it mean that investors who saved gold from the last february until now they lost 10.35%, there are a lot of reasons for this fall, one of it is the weakness of the global economy especially in USA and the Euro zone ( Greece, spain, Cyprus, Italy and france) caused the weakness of the Euro zone, the sudden fall in the global economy caused a fluctuate in the markets followed by the weakness of the US dollar and the increase of demand on the Oil came from china and USA, so most of investors go forward to invest in the oil, the reason which decreased the demand on the Gold, probationally caused the decline of gold price.

Gold price in the last 30 days declined by 6.72% we said above that gold declined by 10.35% in the last year 6.72% from the decline in gold price happend in the last 30 days, gold starts to go through the down channel, after the central banks stops buying gold and the investors turns to invest in Oil, there is an expectation for gold price to reach over $ 2000 USD/Ounce of gold, by the next February, gold will pass the down channel if it succeed to pass the average of $ 1660 USD/Ounce of gold.

If gold price succeed to pass the average of $ 1660 USD/Ounce of gold, we will watch an excessive rise in Gold price until it reach the average of $ 2100 USD/Ounce of gold, then we will watch by the middle of 2014 a new down channel in gold price.

15/01/2013

12/01/2013

Trading Instruments: Spot Silver (SLVRNRs_10g)

(SN) (Contracts) (Size of Contracts) (Spread /10 grams Rs.) (Initial Margin Rs.) (Commission per lot Rs.)

(1) (.10) (3 kg) (1) (7,000) (100+VAT)
(2) (.20) (6 kg) (1) (14,000) (200+VAT)
(3) (.30) (9 kg) (1) (21,000) (300+VAT)
(4) (.40) (12 kg) (1) (28,000) (400+VAT)
(5) (.50) (15 kg) (1) (35,000) (500+VAT)
(6) (1.00) (30 kg) (1) (70,000) (1000+VAT)

12/01/2013

Trading Instruments: Spot Gold (GOLDNRs_10g)

(SN) (Contracts) (Size of Contracts) (Spread /10 grams Rs.) (Initial Margin Rs.) (Commission per lot Rs.)

(1) (.10) (100 grams) (15) (7,000) (100+VAT)
(2) (.20) (200 grams) (15) (14,000) (200+VAT)
(3) (.30) (300 grams) (15) (21,000) (300+VAT)
(4) (.40) (400 grams) (15) (28,000) (400+VAT)
(5) (.50) (500 grams) (15) (35,000) (500+VAT)
(6) (1.00) (1 kg) (15) (70,000) (1000+VAT)