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Gold Analysis 4 June 2012

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Gold Chart 4 June 2012

Following last Friday’s strong performance by gold which saw the precious metal almost reach $1630 per ounce on the day it’s been no surprise to see the commodity fall back in early trading on the physical exchange with the price of gold twice basing in the $1610 per ounce region before starting to climb higher once again.  And with turmoil once again returning to the markets gold it is no surprise to see gold once again return to its safe haven status.

With a good platform of support in the $1520 price area gold will now be looking to test resistance, first at $1620-$1625 before once again attacking the $1660 region and beyond.  For intraday gold traders Hawkeye is invaluable, not only because of its ability to look at both price and volume in multiple time frames but with the roadkill indicator the software is able to give gold traders early and accurate entry signals based on volume price analysis.  When this is coupled with the optimal tick charts from the gear changer this gives gold traders the powerful edge they need to succeed.

Gold is once again the haven of choice


If you would like information on Hawkeye and we use it to trade the gold market simply complete the comment box below and we will get back to you.

Have a great day’s trading.