GOLD Forecast Jun 24 - 28

GOLD had a good support for the first half of the week at 1360.85, after falling from the high at 1381.85 on opening. Then Geronemo came and gold did a freefall to test a major support line at 1281.05, recorded a low of 1269.35  and closed at 1293.90 . There were talks of fear that the biggest mine in the world is going to close, the Grasberg mine in Irian Jaya, Indonesia. Apparently that doesn’t hold water because the FOMC minutes did the damage by strengthening the greenback which caused gold to nose dive. Looking at the chart above, gold may do a pullback to test critical resistance at 1321.45 . Failure to penetrate will set gold to move within that resistance and support 1281.05 .

EMAS telah tertahan dengan support yang baik di level 1360.85 pada awal minggu, apabila ia menurun dari level tertinggi di 1381.85 sewaktu pembukaan. Kemudian datanglah Geronemo yang mengakibatkan emas terjun bebas demi untuk menguji support utama di level 1269.35 , lalu menutup di level 1293.90 . Telah ada pembicaraan tentang ketakutan akan ditutup tambang emas terbesar didunia, tambang Grasberg di Irian Jaya, Indonesia. Ternyata berita ini tidak menggoyahkan karena notulen FOMC yang mengakibatkan penguatan greenback yang berakibat penerjunan bebas bagi emas. Melihat pada chart yang diatas, emas mungkin akan melakukan pullback ke level 1321.45 , resistan kritis. Kegagalan untuk melewati akan membuat emas bergerak diantara level resistan itu dan support di level 1281.05 .