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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]