Archive for November, 2009
by Karlo Alfredo | November 30, 2009 | Daily Market Reports, Islamic Gold
On Friday gold opened at $ 1190 and fell across the global markets. In Asian market gold saw a low of $ 1138 and quickly picked up the pace in London market and traded near $ 1165, as the U.S market was open gold took again a dip towards $ 1148.75, but found good buyers for every dip and gold propelled to $ 1181 behind a weaker USD and finally gold market settled at $ 1174.50. A critically overbought gold ran into heavy turbulence on Friday, Dubai’s debt problem triggered gain in USD pushing the gold prices down. Technically gold market has formed a hanging man candlestick pattern on the chart, which is usually considered as a reversal for an extremely overbought market. Expecting gold market to be on a trading range of $ 1180 and $ 1160, reversal pattern will be confirmed if gold market closes below $ 1177. More »
by Karlo Alfredo | November 26, 2009 | Daily Market Reports, Islamic Gold
Gold opened at $ 1168.75 and steadily gained in Asian and European session. In U.S market gold peaked to $ 1187, a record new price. Gold continued its uptrend by maintaining its higher level and finally settled at $ 1186.50. Crude oil gained nearly $ 2 and U.S dollar index got knocked down firmly below $ 75. Yesterday the fundamental news that some of the emerging economies are still buying gold from IMF at these record prices gave confidence boost to the gold bull camp. U.S market is off today for thanks giving day and early globex low volume trading has pushed the gold prices to a high of $ 1194. Gold market is definitely eyeing for $ 1200, but the recent rally in gold prices is driven by Investment demand which is a factor to be noted and when this investors book their profit we can see a volatile price action in gold. More »
by Karlo Alfredo | November 25, 2009 | Daily Market Reports, Islamic Gold
Gold opened at $ 1165.50 and fell slightly to a low of $ 1161.60 in Asian market. In London market gold rose to as high as $ 1171 and continued its choppy trading in U.S market and finally settled near to its intraday high at $ 1169.30. On Monday gold traded to a high of $ 1174.50 and still maintains the upside momentum. It seems to be like currency traders are calculating the negative impact which could affect the economy, if the Interest rates are kept low for an extended period. U.S dollar index remained unchanged yesterday resulting in a similar price movement in gold market. A similar price movement in gold could be spotted on monthly chart and if history repeats we can see a large consolidation or sell off in the market which is highly necessary and likely. Expecting sellers to comein at current trading levels in gold with a price cap at $ 1188. More »
by Karlo Alfredo | November 23, 2009 | Daily Market Reports, Islamic Gold
On Friday gold opened at $1143.50 and saw some gains in Asian Market and fell in London to as low as $1132.40. In U.S market gold recouped its earlier losses and traded to as high as $1147.50 and finally closed at $1146.25. As the dollar makes its move below the key levels, gold moves higher. The U.S. Dollar is showing signs of achievable short-to intermediate-bottom but needs to get above 78 on the U.S. Dollar Index to confirm that. Investment buying and U.S dollar carry trades is giving volatile movement in gold. Intraday support and resistance for gold may not show much relevance as we are trading in uncharted territories. If we recall the price movements of gold we have seen when ever gold has passed major levels the price movement has been extremely volatile. In early Monday hours of trade gold has already crossed the $1060 and it seems like gold is eyeing $1188. More »
by Karlo Alfredo | November 10, 2009 | Staples
al bogari Commodities is a prominent trader and supplier of rice in the Middle East, Africa and Asian markets. We have established a large international rice-sourcing network that enables us to supply high quality rice from India, Thailand and Pakistan. Our range of rice products includes popular varieties like Basmati, Jasmine, Sharbati and Long Grain. More »
by Karlo Alfredo | November 07, 2009 | Spices
Black pepper is the most popular spice being traded in the world today. al bogari Commodities is a major supplier of black pepper from India and Vietnam that embodies a distinct rich flavor. More »
