Spot gold prices continued to trade in a narrow range once again yesterday ending the gold trading session marginally lower and with some support coming from the shorter term moving averages.  As outlined in several previous gold market commentaries there are few conclusions that can be drawn from the current price action other than to [...]

The bearish tone for spot gold was confirmed once again yesterday on the daily gold chart with gold prices sliding lower, and confirming the pause point at $1125 outlined in Tuesday’s market commentary.  With spot gold now trading in a relatively narrow range the short term moving averages are now tightly bunched and provide little in the [...]

Yesterday’s wide spread up candle on the daily spot gold chart once again gave some encouragement to the gold bugs, ending the trading session breaking and holding above both the 9 and 14 day moving averages but failing to breach the 40 day which now sits immediately above.   However, the upwards rally of the last [...]

Another relatively quiet day for commodities in general which is reflected in the gold spot price which oscillated in a narrow trading range, ending the day as a narrow spread down bar with a short lower wick to the body of the candle.  From a technical perspective the daily gold chart remains little changed from [...]

As outlined in yesterday’s gold market commentary Monday’s candle failed to provide any confirmation of Friday’s deep hammer candle which was finally validated Tuesday, with the gold spot price ending the day on a wide spread up bar but which still closed below all three moving averages.  Recent correlation between gold the US dollar has [...]

With little meaningful news and markets focusing on the debt problems in Europe it was no surprise to see little price action across virtually all the markets including spot gold.  The gold trading session ended with a very narrow spread up candle and small wick providing little in the way of clues to the short [...]

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 [...]

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 [...]

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 [...]

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 [...]