{"id":59157,"date":"2011-11-15T13:04:04","date_gmt":"2011-11-15T02:04:04","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2011\/11\/15\/gold-seen-building-momentum\/"},"modified":"2011-11-15T13:04:04","modified_gmt":"2011-11-15T02:04:04","slug":"gold-seen-building-momentum","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2011\/11\/15\/gold-seen-building-momentum\/","title":{"rendered":"Gold Seen Building Momentum"},"content":{"rendered":"

\n\tBy Chris Shaw<\/p>\n

\n\tOngoing political turmoil has helped the gold price claw its way back towards US$1,800 per ounce, while technical analysts at Barclays Capital note the precious metal continues to find downside support from the physical market.<\/p>\n

\n\tA further positive in the view of the analysts is investment funds flows for gold have also turned positive again. This is expected to be a key in leading the price higher, with the analysts forecasting a 4Q11<\/span> price of US$1,875 per ounce, rising to US$2,000 per ounce for 2012.<\/p>\n

\n\tFrom a technical perspective, the break above resistance in the US$1,775 per ounce area confirmed a bullish view, the analysts now expecting a move toward US$1,840 per ounce as the final Fibonacci level.<\/p>\n

\n\tAccording to the technical analysts, the daily cloud base near range lows at US$1,680 per ounce should underpin any near-term weakness. Any break above US$1,840 per ounce would be see as confirmation of further upside toward the all-time high at US$1,921 per ounce.<\/p>\n

\n\tMedium-term the analysts remain bullish and see support at US$1,725 and US$1,680 per ounce, while resistance is currently at US$1,810 and US$1,840 per ounce.  <\/p>\n

\t\"\"<\/p>\n

\n\tTechnical limitations<\/strong><\/p>\n

\n\tIf you are reading this story through a third party distribution channel and you cannot see charts included<\/span>, we apologise<\/span><\/span>, but technical limitations are to blame.<\/em><\/strong><\/p>\n

\n\tFind out why FNArena<\/span> subscribers like the service so much: "Your Feedback (Thank You)<\/a>" – Warning this story contains unashamedly positive feedback on the service provided.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Technical analysts at Barclays Capital remain bullish on gold.<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[22],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/59157"}],"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\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=59157"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/59157\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=59157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=59157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=59157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}