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Gold Analysis 30 May 2012

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Gold Chart 30 May 2012

Today has been a great day for gold bulls with the price of gold rising almost $20 dollars at time of writing.   For online gold trading this move is best seen in our Hawkeye tick charts which are colour coded according to the internal speed of the market. This allows intra day gold traders to capture these dramatic moves as the charts work in harmony with each other.  Today’s move was triggered by a burst of buying in the $1540 per ounce price area but whether this sudden outburst of bullish optimism in gold continues over the next few days will depend on a number of factors, including the increasingly dysfunctional state of the eurozone as traders and investors scramble for safe havens.

If you would like to know more how I analyse and trade this market just fill out the contact form and I will be happy to send you some further information.

Have a great day’s trading.