Karen Jones News
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Gold’s rally from a two-year low may not endure as the metal will probably drop to test a key support at $1,227.20 by the end of the year, according to technical analysis by Commerzbank AG.
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Gold in euros may have peaked after the metal declined to less than the 55-day moving average for the first time in a year, according to a report from Commerzbank AG’s technical analyst Karen Jones .
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Aluminum may drop to about $1,911 a metric ton if it falls below an area consisting of the 200-day moving average and a six-month uptrend, according to technical analysis by Commerzbank AG.
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The dollar is poised to strengthen as much as 2 percent against the Swiss franc after breaking through an area of so-called resistance, Commerzbank AG, citing trading patterns.
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The pound may weaken more than 3 percent to a two-year low against the dollar after it failed to strengthen above a key level of so-called resistance, Commerzbank AG said, citing trading patterns.
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Zinc is set to rise in the next few weeks, climbing from a moving average that supports the price of the metal used to rust-proof steel, according to technical analysis by Commerzbank AG.
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The pound may fall 1.4 percent versus the dollar after it traded below a so-called support level, Commerzbank AG said, citing trading patterns.
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Aluminum may extend its biggest monthly increase in a year and climb 5.4 percent to $2,333 a metric ton, Commerzbank AG’s technical analyst Karen Jones said, citing trading patterns.
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The Australian dollar may fall to a four-month low versus the U.S. dollar after breaking beneath a level of so-called support, Commerzbank AG said, citing trading patterns.
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Silver, the fourth-biggest loser in the Standard & Poor’s GSCI index of 24 commodities in the past year, may drop another 5.2 percent to about $28.49 an ounce, according to technical analysis by Commerzbank AG.
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