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Based on Bear Market Cycle Bottom Forming in Gold and Gold Stocks Right Now article
China Industrial Profits Rise 13.2%
Industrial profits in China were up 13.2 percent on year in the period of January to November, the National Bureau of Statistics said on Friday - coming in at 5.33 trillion yuan.
That's down from the 13.7 percent annual increase in the year through October.
For November, total industrial profits gained 9.7 percent to 707.48 billion yuan - down from the 15.1 percent yearly gain in October.
Buy gold in 2014
How to Trade the Aussie Dollar Head and Shoulders Pattern
According to Thomas Bulkowski, author of The Encyclopedia of Chart Patterns, the Forex head and shoulders price pattern is tied for the number 1 spot for best performing chart patterns alongside the Forex bull flag pattern. As with all most patterns, they give Forex traders valuable clues in determining future price direction and act as road signs along the trend highway. There are rules that must be observed when this pattern is recognized. Knowing where to enter, where to exit for profit and knowing where to exit if this pattern fails are the three things that traders need to get from this pattern.
Price of Gold in 2014
This has been a terrible year for gold, with the SPDR Gold Trust and spot gold prices falling by more than 25%. Many gold-mining stocks have suffered even larger declines, as the Market Vectors Gold Miners ETF lost more than half its value this year. But with gold just barely hanging above the $1,200-per-ounce level, do investors have any reason to hope that the price of gold in 2014 will bounce back after the first losing year for the yellow metal since the turn of the millennium? Let's take a look at some of the factors that caused 2013's declines and see if they're likely to persist into 2014 and beyond.
What will affect the price of gold in 2014?
The biggest factor that could affect the price of gold in 2014 is the policy that the Federal Reserve sets. A big part of the weakness in gold prices in 2013 came from the Fed's moves toward tapering back on its quantitative easing, with even the threat of reduced bond-buying helping to push interest rates substantially higher. Low interest rates have supported gold prices for years, as investors haven't had to give up appreciable income-earning opportunities when they owned gold bullion. Now, though, as the 10-year Treasury yield has pushed back up 3%, gold investors face a rising opportunity cost when they choose to put their money into gold rather than income-producing assets.
Price projections on gold
UBS 2014 estimate
$1,200
Goldman Sachs 2014 estimate
$1,050
ANZ 2014 estimate
$1,450
Morgan Stanley 2014 estimate
$1,313
Coinsetter to raise $1.5 million for Further Expansion
Despite several hurdles coming from the Asian countries like China and India that issued guidelines recently about the use of Bitcoin by customers, the demand for Bitcoin has not yet diminished. Venture capitalists are eager to invest in startups as well as established Bitcoin companies; in the league is Coinsetter Inc., a Bitcoin trading platform.
Now, Coinsetter Inc. has filed an application with the U.S. Securities and Exchange Commission to raise $1.5 million. A lot of enthusiasm was seen among the venture capitalists that flocked for it. Nevertheless, the ambitious fundraising plans were disclosed in a filing with the U.S. Securities and Exchange Commission.
The Company Wants Even More
In his statement Jaron Lukasiewicz, Coinsetter’s chief executive officer, said that though currently the company plans to raise $1 million, it would not mind to bring in more as it is will need more funds for further expansion, particularly when Bitcoin is becoming popular every passing day despite prices falling to half in the same month from the highest $1200.
There is no dearth of venture investors who have been seeking out Bitcoin-related companies when the digital currency became a hit. One mega hit was Coinbase Inc., a provider of online Bitcoin accounts. This company raised $25 million earlier this month in funding led by Andreessen Horowitz.
Coinsetter, the New York based company said that it is dedicated to making Bitcoin safe and easy to use for all its customers which are currently open only to friends and family. The major service it offers for customers is that it aggregates Bitcoin prices from multiple exchanges, and offers charting tools for market analysis and provides a trading system for them.
The company which earlier in April this year raised $500,000 from venture investors, majorly from SecondMarket Inc. CEO Barry Silbert’s Bitcoin Opportunity Fund, hopes that this time it will get better response. Though there were some issues earlier this year when Coinsetter along with 21 other digital-currency companies were subpoenaed by New York’s top banking regulator, things are quite easy for now.
Bitcoin which is facing challenges in China and India which could provide impetus to the digital currencies, has got a better reaction so far in the U.S., as the Treasury Department’s Financial Crimes Enforcement Network has said that Bitcoin businesses may be considered money transmitters for the purpose of complying with anti-money laundering laws.
AUDUSD Technical Analysis : December 30 - January 3
The Australian dollar slumped to a one-week low against its U.S. counterpart on Friday, as indications of an improving U.S. economy fuelled expectations of a further reduction in U.S. monetary stimulus.
Monday, December 30
The U.S. is to release private sector data on pending home sales, a leading indicator of economic health.
Tuesday, December 31
Australia is to produce data on private sector credit.
Meanwhile, the U.S. is to produce private sector data on consumer confidence and house price inflation, as well as a report on manufacturing activity in the Chicago region.
Wednesday, January 1
China is to publish government data on manufacturing activity, a leading indicator of economic health. The Asian nation is Australia’s largest trade partner.
Markets in Australia and the U.S. will remain closed for the New Year’s holiday.
Thursday, January 2
China is due to release the final reading of its closely watched HSBC manufacturing PMI.
In the U.S., the Institute of Supply Management is to release its manufacturing PMI, while the Labor Department is to release its weekly report on initial jobless claims. The country is also to publish data on construction spending.
Friday, January 3
The U.S. is to round up the week with official data crude oil stockpiles and natural gas inventories.
EURUSD Technical Analysis : December 30 - January 3
The euro surged to the highest level since October 2011 against the U.S. dollar on Friday, with moves amplified in poor year-end liquidity after European Central Bank Governing Council member Jens Weidmann warned against keeping interest rates low.
Monday, December 30
Italy is to hold an auction of five-and-ten-year government debt.
Meanwhile, the U.S. is to release private sector data on pending home sales, a leading indicator of economic health.
Tuesday, December 31
Markets in Germany will remain closed for New Year’s Eve. Meanwhile, the U.S. is to produce private sector data on consumer confidence and house price inflation, as well as a report on manufacturing activity in the Chicago region.
Wednesday, January 1
Markets in Europe and the U.S. will remain closed for the New Year’s holiday.
Thursday, January 2
The euro zone is to release revised data on its manufacturing PMI, while Spain and Italy are also to release individual reports.
Later in the day, the Institute of Supply Management is to release its manufacturing PMI, while the Labor Department is to release its weekly report on initial jobless claims. The U.S. is also to publish data on construction spending.
Friday, January 3
In the euro zone, Spain is to publish data on the change in the number of people employed.
The U.S. is to round up the week with official data crude oil stockpiles and natural gas inventories.
Wall Street Could Get Limited Benefits from China's Bank Activity
Brent Crude May Weaken for a Second Year in 2014
Some estimates say that prices will average $105 a barrel in 2014; thus, it is lower than $108.71 in 2013. The decline is though not unexpected given the market’s behavior this year so far, observers believe that it is definitely leaving out the investors as they are not so optimistic about it.