GOLD FALL AGAIN THE STATEMENT due dovish FED?

MAKE MONEY BLOG$, The movement of gold slipped back because of the Fed as the U.S. central bank yesterday released his latest statement in which next year will not provide or issue a new stimulus to help ease tension in the markets and investors.
 Statement dovish tone in the response by the market and add to the negative sentiment in the various markets. The Fed is still relying on low interest rates on future economic growth and remain at the level of 0.25%.From Europe, the German chancellor is still not approved the suggestion to raise the limit for the European bailout fund, which helped drag the equity markets in Europe, from France's CAC stock index fell as much as 0.3% and thin in the range of 3058.Germany's DAX stock index also fell on Tuesday and trading was in the range 5699 to market in the cap.Sales of Italian bond auction on Wednesday, and sales of Spanish bond auction on Thursday next will be in the news awaited by the market which would potentially be a trigger of economic growth of Europe.Investors are still waiting and see the development crisis in Europe related to the European Stability Mechanism (ESM) that will deliver development results in the second half of next year.From Asia, Japan's Nikkei index opened down 0.6% and is in the lowest range on the 8485 level today. Korea's Kospi index, also fell in trading today, the index is corrected and the lowest prices at the level of 239. Groundless fears and negative performance in the Asian market still characterize the movement today because there is still no strong signal that provides a comfort zone on global economic growth and some European financial institutions have returned the funds to the Asian market.Gold was trading higher on Tuesday and is on its highest price in the range of USD 1677.85 per troy ounce and finally surrendered to the dollar in the U.S. session and move to the lowest price in the range of USD 1622.25 per troy ounce. Gold lost as much as USD 55.6 in trading yesterday.Trading spot gold today rose as much as 0.3% thinner in the range of USD 1640.75 per troy ounce. While U.S. trade gold futures also rose as much as 0.4% in the Asian session and was in the range harag USD 1642.55 per troy ounce.Technically speaking, the movement of gold on this day is still below the indicator simple moving average (SMA 120) which gives an indication of gold still in the bearish movement. Indicator of relative strength index (RSI 14) is now at level 29.Visible gold rose thin and likely will do the rebound when gold broke through the SMA indicator is orange then gold will likely move toward resistant USD 1650.79 per troy ounce. Beware if gold weakens and penetrates support USD 1627.32 per troy ounce of gold it will potentially continue pelemahannya and move toward immediate support in the range of USD 1603.85 per troy ounce.
Fredy RodoSenior Technical and Fundamental Analyst
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