Tuesday’s Forex Analytical Charts

Tuesday’s Analytical Charts for Gold, Silver and Platinum and Palladium

U.S. Existing Home Sales Rise 2.4% In September

(Kitco News) – The U.S. housing market found some support in September, reversing some of August’s losses, as existing home sales increased, according to the National Association of Realtors.

Gold Up, Hits 6-Week High; More Safe-Haven Demand and Bargain Hunting

(Kitco News) – Gold prices are moderately higher and notched a six-week high in early U.S. trading Tuesday.

Gold Ends Up On Some Safe-Haven Demand, Improving Technical Posture

Gold prices ended the U.S. day session moderately higher Monday and are hovering near a five-week high. The precious metal was boosted by more safe-haven demand and bargain hunting. Traders and investors are still a bit nervous following last week’s volatility and uncertainty, which could return. The near-term chart posture for gold also continues to improve. December Comex gold was last up $5.80 at $1,245.00 an ounce. Spot gold was last quoted up $6.40 at $1,245.00. December Comex silver last traded up $0.029 at $17.36 an ounce.

Randgold Urges DRC Government To Invest Further In The Country

Speaking at a media event in Kinshasa, Democratic Republic of Congo, Mark Bristow, chief executive of Randgold Resources Ltd. (LSE:RRS)(NASDAQ:GOLD), says that more investment is needed from the local government.

Large Speculators Add To Gold Bullish Positions For First Time Since Mid-August

After cutting bullish Comex gold futures and options holdings for eight straight weeks, large speculators added to their net-long holdings, according to data compiled by the Commodity Futures Trading Commission.

Monday’s Forex Analytical Charts

Monday’s Analytical Charts for Gold, Silver and Platinum and Palladium

Gold Bulls Run Into Sticky Fibonacci Resistance

(Kitco News) – December Comex gold futures charged into early morning action Monday with a firm bid. Action over the last two weeks has shown the bulls are in charge of the near term trend. A “V” type of bottom has formed on the daily chart in the wake of the strong October 6 “bullish reversal” day. Also, the gold market is trading above its 20-day and 40-day moving averages, which is a positive technical signal. See Figure 1 below.