Gold Prices Fall to 5 Year Lows | July 20

With gold prices at 5 year lows and new stock market all-time highs it would seem time to step on the gas…

Well, yes and no.

A part of trading profitably is making the call on when the accepted risk matches the accepted potential. Executing a trade to risk one dollar to make one dollar makes you a break-even trader.

Not a question the market is a buy. You want to be long. But…after the recent 7 days of higher-highs and higher-lows the reward potential has diminished.

Even if you can find a spot to manage risk, be sure the profit potential of the trades makes sense.

July 20 Stock Market Today: Map of the S&P 500

(click the map for a full view)

gold prices fall to 5 year lows

Day Trading Game Plan: The SPY ETF Chart

SPY higher open this morning is a great spot for profit taking if you’re swing trading the ETF the last 7 days.

(click the chart for a full view)

gold prices fall to 5 year lows

Stocks to Trade | Monday July 20, 2015

Pete’s Notes:

  • Spy price action has closed two days above the $212 level we have marked as the true resistance for the last several months. As of 7am we are looking to open higher again which will make a new 20 day high.
  • Looking back on the charts, a fresh 20 day high has lead to a false break out.

Interesting Chart Lessons:

Gold futures continue to struggle making new 5 year lows.

(click the chart for a full view)

gold prices fall to 5 year lows

Earnings in play today > 1M avg shares: HAL, HAS, IBM, MS, ZION

Bullish Ideas ATR/Volume/Price: TSO, NFLX, CELG, WB, MPC, VLO, AXLN, MBLY, AMZN, WBA, HCA, RCL>85, CF, NKE, TWC, UA, TSLA, LLY, ACN, M, PNC,

Bearish Ideas ATR/Volume/Price: wll, clr, rrc, gmcr, fslr, apa, pxd, hes, eog, slb, lng, utx

Weak Stock Weak Close: wpz, se, apa, mro, bby, nem, wynn, cam, mat, kors, rrc, mur, car, atw

Strong Stock Weak Close: NFLX, STI

Weak Stock Strong Close: mu, unp

Strong Stock Strong Close: FB, PGR, CF

20 day Breakdown: rrc, mat, eog, bby

20 Day Breakout: AMTD, HON, V, IBM, C, SCHW, TWC, CF, EBAY, HZNP, PGR, HFC, AMZN, FB, JBLU

2x Normal Volume: EBAY, FB, PYPLV, MAT, BBY, PGR, CF, ZION, NCR

Watch List Longs: VLO, MO, DIS, TWC, CVS, BMY, SBUX, COF, UNH, USB, TGT, EBAY, C, M, INTU

Watch List Short: hal, swn, cop, bhi, slb, cvx, bby, kss<62, nem, nue, orcl, dd, txn, ntap, lltc, hpq, wynn

Inside days: gm, qcom, mo, fit, pm, nvda, hd, vlo, unp, celg, dd, lly, wfm, unh, mbly, gs, kate, ip, wba, hrb, rai, dg, ctrx, hum, cybr, ctrp, tasr, gmcr

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Gold Prices Fall to 5 Year Lows

Here’s why gold prices have fallen to five-year lows

International gold prices fell to a five-year low on Monday. In the Asian markets, the precious metal shaved off 3.9% to trade at $1,089.80 an ounce, having already suffered its worst weekly performance since March last week.

In the domestic market, gold prices plummeted by Rs 300 to trade at over two-year low of Rs 25,700 per 10 grams at the bullion market today

Here’s why gold has been losing its sheen

— Dollar demand has increased on the back of the expectation of an interest rate hike from US Federal Reserve, leading investors to hoard the dollar instead of the precious metal.

Continue reading on dnaindia.com

Gold Prices Fall to Five-Year Low in Asia Trading

What some traders described as a “mini flash crash” in early Monday trading in Asia drove the price of gold to its lowest level in five years, falling below $1,100 dollars an ounce.

The spectacular plunge saw 30 billion dollars’ worth of short selling occurring within half an hour amid what are known as stop-loss selloffs: orders entered into the market automatically executed when a specific price is reached.

“In the physical market this would not be possible because that would consume a whole lot of physical gold. But in the futures market, because it’s all digital, as long as you find a buyer to bid for it then that would be possible,” said Luke Chua, sales and operations manager at Bullion Star, a precious metals dealer in Singapore.

The speculative selling reportedly began at the Singapore Gold Exchange.

Continue reading on voanews.com

Gold price falls to five-year low on US rate rise talk

The gold price has fallen to its lowest in more than five years as talk of a US interest rate rise this year has led investors to sell the precious metal.

The price fell 4% to as low as $1,088.05 (£697) an ounce in Asian trade – the lowest since March 2010.

Investors turned to the US dollar, which rose on the likelihood of the Federal Reserve raising rates because of a stronger US economy.

Investors generally buy gold during times of uncertainty.

Monday was the first time the metal has traded below the key threshold level of $1,100 since 26 March 2010.

The price of platinum also fell 5% to its weakest since the global financial crisis.

Evan Lucas, a market strategist at trading firm IG, said the recent slump in gold prices could signal a “retracement” to $1,000 an ounce by the end of the year.

“There are no clear signs (or reason) to buy it. It is an inert metal that is a store of value yet inflation is heading nowhere and investment in the US dollar and bonds is clearly more appealing,” he told the BBC

Continue reading at bbc.com

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