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Gold Trading 25 Aug 2010

spot gold price
The spot gold price  traded with a strongly positive tone yesterday pushing back above the 9 day moving average, a price pattern which has continued in early trading today with the spot gold price  sitting at $1237.10 at time of writing.  With yesterday’s candle on the daily chart ending with a deep lower wick which found strong support from the 14 day moving average, only added further confirmation of the bullish picture for the spot gold price. This positive sentiment has carried forward in gold  trading this morning with gold kicking  higher once again, up five dollars from the morning session.  With both the 9 and 14 day moving averages providing strong support we now await the inevitable test of the all time high at $1265 per ounce.
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