Home » Gold Trading News » Gold Trading Analysis 8 July 2010

Gold Trading Analysis 8 July 2010

spot gold trading

Spot gold prices recovered some of their lost ground yesterday ending the trading session at $1205.15 and breaking back above the psychological $1200 per ounce price handle, having touched a low of $1125.85 during the gold trading session.  However, with such a modest rise this candle provides little in the way of a strong signal that a reversal in the current short term bearish sentiment is imminent.  Indeed the 9 day moving average has crossed below the 40 day moving average and should the 14 day follow suit, then this will add further to the bearish picture at present.

spot gold

The monthly gold chart remains firmly bullish at a long term trend with the weekly chart suggesting short term weakness but one which is finding support from the 14 week moving average at present.

What is the best platform for gold trading?  In my view it is Metatrader 4.  Download your free demo copy of the metatrader 4 software by clicking on the following link, download metatrader free, and get started today.

Gold & the BIS – the plot thickens!!

BIS Swap confuses as gold rebounds