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\n\tBy Rudi Filapek-Vandyck<\/font><\/font><\/p>\n \n\tBlame it on global risk appetite and the relentless uptrend for global equities, but gold aint going nowhere for the time being. A view shared by technical commodity analysts at Barclays Capital who report this morning that gold has now carved out, and completed a head-and-shoulders pattern on price charts.<\/font><\/font><\/p>\n \n\tThe latter is a technical signal that usually indicates the road of least resistance leads south. No surprise thus, the analyst at Barclays foresee gold trending back to US$1079\/65\/oz, as that's where the next level of support lies. However, given the rather weak performance of gold this month, the analysts suggest it seems unlikely gold's fall would stop there.<\/font><\/font><\/p>\n \n\tThey suggest USS1048\/oz seems a far more likely price level to halts gold's price fall in the weeks ahead. It's where the 200-day moving average lies and this has proved to provide solid support in the past.<\/font><\/font><\/p>\n \n\tBigger picture, and further away into the future, the analysts remain positive about gold's prospects, but not for now.<\/font><\/font><\/p>\n \n\tThere is some good news though with the analysts observing gold stocks have recently outperformed the metal's price movements. They expect this to continue.<\/font><\/font><\/p>\n \n\tFor silver, a close below trendline support at US$16.87 would confirm a move to US$16.33 and US$15.80\/oz, predict the analysts.<\/font><\/font><\/p>\n \n\tPrecious metals analysts at Standard Chartered concur with the above view. They observe physical buying interest for gold has remained strong just below the US$1,100\/oz level. But they have also observed that buying interest drops off as soon as the price approaches US$1,110\/oz. As such, they see an increased risk of a deeper correction.<\/font><\/font><\/p>\n \n\tThe picture fits in with technical analysts elsewhere reporting the technical picture for EUR\/USD remains weak and bearish overall.<\/font><\/font><\/p>\n","protected":false},"excerpt":{"rendered":" Gold and silver continue displaying bearish signals on price charts.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[59],"tags":[22],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/56400"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=56400"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/56400\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=56400"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=56400"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=56400"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}