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Gold Trading Analysis 8 Feb 2010 (0)

Published on Mon, 8/02/10 | Spot Gold Price - Daily News

A volatile week for spot gold trading in which we saw the gold price fluctuate over a per ounce range and with the weekly candle closing as a long legged doji suggesting that we could see a turning point in the recent decline from late 2009.  The daily chart would seem to confirm this view in the short term and following Thursday’s sharp sell off which ended with as a wide spread candle and closing below all three of our short term moving averages, Friday’s hammer candle came as a welcome relief to the gold bulls.  As a result we could see a rally for spot gold prices in the short term based on this strong technical signal which is also reinforced by the fact that Friday’s low found solid support in the congestion at $1045 per ounce suggesting that this could provide the requisite platform for a bounce back.  However, whilst the gold price remains below all of the short term moving averages this is still far from certain and any move higher could run into resistance from the moving averages now layered above and any trading opportunities to the long side should therefore be treated as short term trading positions for the time being.  At present we are still trading well above the 200 day moving average and provided this remains so then we can expect any short term rally to be sustainable but any breach of this technical indicator would signal a much deeper move lower.  For any continued rally to the upside we need to see a break and hold above $1125 initially followed by a step up and over the $1150 price handle.

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Spotgold Trading Analysis 4 Feb 2010 (0)

Published on Thu, 4/02/10 | Spot Gold Price - Daily News
Spotgold Trading Analysis 4 Feb 2010

Whilst yesterday’s shooting star candle on the daily gold chart was a signal that all was not well with the recent rally in the gold market, today’s very wide spread down candle seems an over reaction to the weakness of yesterday and can only be attributed to the continuing fall in the euro.  This clearly [...]


Spotgold Analysis 3 Feb 2010 (0)

Published on Wed, 3/02/10 | Spot Gold Price - Daily News
Spotgold Analysis 3 Feb 2010

Last week’s series of candles finally delivered for spotgold prices which reversed in dramatic fashion on Monday following stellar ISM data in the US which prompted a rebound in equities with a consequent fall in the US dollar.  Both Monday and Tuesday’s candles saw the gold trading sessions close as wide spread up bars which [...]


Spotgold Trading Analysis 1 Feb 2010 (0)

Published on Mon, 1/02/10 | Spot Gold Price - Daily News
Spotgold Trading Analysis 1 Feb 2010

Last week’s spotgold chart provided us with little in the way of either excitement or directional clues, trading in a narrow range between the USD1075 and USD1100 per ounce price band.  Friday’s candle was typical ending as a narrow spread doji cross very similar to that of Thursday.  From a technical perspective the only interesting [...]


Gold Trading Analysis 28 Jan 2010 (0)

Published on Thu, 28/01/10 | Gold Trading News
Gold Trading Analysis 28 Jan 2010

Recent dollar strength, in particular against the euro, has had an negative impact on commodity prices with the gold spot price suffering as a consequence with gold prices trying to base at the $1087 price level.  Nevertheless, today’s price action on the gold chart has resulted in a distinctive doji candle which could signal a [...]


Gold Trading Analysis 26 Jan 2010 (0)

Published on Tue, 26/01/10 | Gold Trading News
Gold Trading Analysis 26 Jan 2010

A relatively quiet day across all the commodity markets, as most of the major metals and energy units consolidated sideways, with the gold spot price following suit in today’s gold trading session, testing lower price levels in the morning session, only to recover later suggesting a modicum of bullish sentiment, despite the recent sharp sell [...]


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Gold Trading Analysis 8 Feb 2010

A volatile week for spot gold trading in which we saw the gold price fluctuate over a $70 per ounce range and with the weekly candle closing as a long legged doji suggesting that we could see a turning point in the recent decline from late 2009.  The daily chart would seem to confirm this [...]

Spotgold Trading Analysis 4 Feb 2010

Whilst yesterday’s shooting star candle on the daily gold chart was a signal that all was not well with the recent rally in the gold market, today’s very wide spread down candle seems an over reaction to the weakness of yesterday and can only be attributed to the continuing fall in the euro.  This clearly [...]

Spotgold Analysis 3 Feb 2010

Last week’s series of candles finally delivered for spotgold prices which reversed in dramatic fashion on Monday following stellar ISM data in the US which prompted a rebound in equities with a consequent fall in the US dollar.  Both Monday and Tuesday’s candles saw the gold trading sessions close as wide spread up bars which [...]

Spotgold Trading Analysis 1 Feb 2010

Last week’s spotgold chart provided us with little in the way of either excitement or directional clues, trading in a narrow range between the USD1075 and USD1100 per ounce price band.  Friday’s candle was typical ending as a narrow spread doji cross very similar to that of Thursday.  From a technical perspective the only interesting [...]

Gold Trading Analysis 25 Jan 2010

Friday’s gold trading session ended with a small hammer candle with a narrow body, which came as a welcome relief to gold bulls following two days of sharp declines. With the gold spot price now well below all three short term moving averages the outlook at present remains at present mildly bearish, however, technically [...]

Gold Trading Analysis 19 Jan 2010

The gold spot price continued its sideways consolidation yesterday trading in an extremely tight range and ending the gold trading session with a narrow spread up bar with a tiny wick to the lower body.  Technically the price action of the last two weeks is now in the process of forming a minor pennant which [...]

Gold Spot Price – Gold Chart Analysis 11th January 2010

Following Friday’s disappointing Non Farm Payrolls which came in far worse than expected at -85k (many analysts had been predicting the first positive number in over two years), the US dollar has taken a bit of a battering which has resulted in a quite extraordinary surge in gold as investors bail out of paper assets [...]

Gold Trading Analysis – 5th January 2010 Gold Chart

The commodity market continues to reflect a positive attitude in the New Year, with both spot silver and spot gold prices making significant gains in the first few days if 2010, and recovering some of the lost ground of December 2009. With gold and silver prices now correlating once again, the recovery in both has [...]

Gold Trading Analysis – 4th January 2010

A happy new year to all our gold traders and I am sure many of you were disappointed by the lacklustre end to the year following the meteoric rise of the spot gold price during November.  December’s sharp sell off was initially signalled by the deep hanging man candle first seen in late November on [...]

Gold Spot Price – Trading Gold MT4

Following the euphoric rise in the gold spot price during November, December, in stark contrast, has provided a salutary lesson to all traders in that what goes up must eventually come down.  The importance of good risk and money management can never be under estimated and whilst the gold bull run of November looked unstoppable [...]

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Gold Trading News

Gold, Other Metals Gain - Wall Street Journal
8 Feb 2010 at 11:02pm

Reuters

Gold, Other Metals Gain
Wall Street Journal
Despite the recent break in prices, gold's price still is historical... (show more)
After the gold rush - CNNMoney.com
8 Feb 2010 at 4:53pm

After the gold rush
CNNMoney.com
But shouldn't oil and gold prices eventually move higher again? After all, despite Eur... (show more)
Gold Prices Headed to 0 an Ounce? - TheStreet.com
8 Feb 2010 at 6:27pm

Gold Prices Headed to $820 an Ounce?
TheStreet.com
NEW YORK (TheStreet) -- gold prices could sink to $820 an ounce by 2... (show more)
Randgold increases dividend after gold price rises (Daily Telegraph)
8 Feb 2010 at 11:19pm
The sharp rise in the gold price last year help drive a 48pc rise in the full-year profits of FTSE 100 gold miner Ran... (show more)
Harmony Returns to Profit on Higher Rand Gold Price (Update1) (Bloomberg)
8 Feb 2010 at 8:06am
Feb. 8 (Bloomberg) -- Harmony Gold Mining Ltd. , Africa?s third-largest producer of the metal, said it returned to pr... (show more)
Daily Spot Gold Prices - January 13th 2009