Gold for finance and investment

The rating agency Moody's and Ficth re-issued a statement that the results of last week's meeting in Brussels, Belgium does not have enough decisions to resolve the debt crisis problem in Europe. Both institutions are re-issued the threat of downgraded debt countries in the European region. The statement sparked the threat of a negative reaction in commodity markets, crude oil movements and the movement of world metal such as nickel, copper, silver and gold also triggered weakened and is in the red zone red hot.
The market is still waiting for concrete steps undertaken by European leaders and the ECB as European central banks to quell the red zone on all exchanges of the world.
Visible, too, the movement which led the stock market and weakness in various regions of the world, which indicates negative sentiment on the outlook for world economic growth in the future. "It's all about the concerns and anxieties" says Nick Trevethan, Senior Strategist of ANZ Singapore, "thus equated with gold in risky assets and changed its function by not properly", he added.
From the U.S. region, the stock exchanges on Wall Street who hatched the Dow Jones index fell quite in as much as 3.5% up to pentupan market this morning, the index was at its lowest level in the range of 11 864 and is in bearish sentiment is negative, the Nasdaq also be dragged to the development of European fell by 3.4% and was in the range 2269.
From Asia, the Nikkei stock market also plunged deep enough to fall and is currently in the range of 8503, from Seoul, the Kospi also are on negative sentiment toward the development is not clear from Europe, fell as much as 0.3%.
In trading Monday, gold could be in the highest daily price in the range of USD 1714.60 per troy ounce and kept falling down until the close of the market this morning at the lowest prices in the range of USD 1656.85 per troy ounce. Gold is final defeat against the dollar as much as USD 57.75.
The movement of the spot gold fell 0.6% today and had to be at its lowest price in the range of USD 1653.53 per troy ounce. The movement of U.S. gold futures also fell thin on this day of 0.5% in the range of USD 1650.95 per troy ounce.
Technically the movement of gold is still below the indicator simple moving average (SMA 120) which gives an indication of the potential in the movement of gold is still bearish. Indicator of relative strength index (RSI 14) in the range of 23 and the oversold condition.
Currently gold is testing a visible area of ​​support USD 1650.79 per troy ounce, breakdown of support it will trigger further bearish movement to move towards the next support in the range of USD 1627.32 per troy ounce. Conversely if the price of gold rose then there is a golden opportunity to rebound against the dollar by moving upward toward the resistant USD 1679.83 per troy ounce