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Gold Trading 14 June 2010

Gold Trading Chart 14 June 2010

Spot gold prices continued to hover last week, flirting with a breakout into new high ground which will almost occur in due course.  Both Thursday’s and Friday’s price action found good support from the 14 day moving average indicating that the bullish momentum remains firmly in place and we can expect a new high for spot gold prices in due course fully supported by all the four moving averages. $1250 per ounce remains the key level and once breached the bullish momentum should continue unchallenged for some time to come.

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