spot gold price

Spot gold prices ended Friday’s gold trading session as a wide spread up bar with only the 40 day moving average capping the extent of the move.  Last week’s price action on the gold chart saw gold prices regain some of their mojo following their pullback to the $1160 per ounce price handle and are now trading sandwiched between the 9 and 14 day moving averages to the downside and the 40 day to the upside, although with the 9 day about to cross the 14 from a technical perspective the gold market is looking decidedly perky.  Today’s gold trading price action has been somewhat more muted and capped again by the 40 day moving average which is hardly surprising given that the markets are now waiting for tomorrow’s FED’s interest rate and decision which comes at a point when the US economy appears to be on the point of tipping back into recession and deflation.  The broader markets are now speculating whether the FED will return to some form of quantitative easing in a bid to give the economy some traction as well as sparking some inflation.  This lack of inflationary pressure has certainly not hindered the spot gold price which is still bullish and continues to benefit from current market fears and uncertainties.

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.

Precious metals best performing assets during first half of 2010

Gold attracts amid increasing investor nerves