Following the two steep falls in gold prices on Tuesday and Wednesday, yesterday’s up candle provided some relief for gold bulls, ending the session with a narrow spread up bar, which closed the trading session marginally below the 40 day moving average, where the high...
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Spot Gold Chart 30 July 2009
Yesterday’s wide spread down bar for spot gold prices, merely served to reinforce the bearish engulfing candle of Tuesday on the daily gold chart, and ended the trading session at $927.20 per ounce, closing well below all three moving averages. The strength and depth of...
Spot Gold Chart 29 July 2009
Without wishing to sound too pleased with myself, it is always nice to be proved right once in a while, and as I wrote in yesterday’s market commentary for spot gold we were right to be cautious in our trading, as the weakness suggested on...
Spot Gold Prices 28 July 2009
According to the World Gold Council India may soon lose its status as the world’s largest gold consumer later this year to China which is showing an ever increasing demand for jewellery. The Indian gold market has been hit by a weaker Rupee, which has...
Gold Chart 27 July 2009
Friday’s candle for spot gold prices ended the trading session ahead of the weekend, with yet another doji, making this four in a row, and setting up an interesting start to the week. With such indecision on the daily gold price chart, we would be...
Spot Gold Prices Chart 24 July 2009
Yesterday’s candle on the daily spot gold price chart, ended the trading session with a bearish ‘shooting star’ signal, suggesting once again that gold prices are now struggling to move higher from this level, which is an increasingly worrying sign. For the fourth time in...
Spot Gold Chart 23 July 2009
With Ben Bernanke’s two day testimony now complete the markets can begin to absorb his comments, which were broadly in line with expectations, and did nothing to spook equities, commodities, bonds or currency, which will no doubt settle back into the summer lull. The daily...
Spot Gold Price – Daily Chart 22 July 2009
Yesterday’s trading in spot gold prices was characterised by indecision and uncertainty, as the broader markets absorbed the comments from FED Chairman Ben Bernanke during the first of his two day testimony on the US economy and proposed fiscal and economic policy moving forward. As...
Daily Gold Chart – 21 July 2009
Yesterday’s candle on the spot gold price chart, provides us with several interesting points to consider for our daily analysis of the spot gold market today, and one which may indicate the direction for gold prices in the next few weeks. The first point to...
Gold Chart 20th July 2009
Friday’s candle on the daily gold chart, provided further evidence of indecision and a lack of market direction as traders withdrew from the market ahead of the weekend. With thin trading volume and little in the way of fundamental news, the price of gold drifted...
Spot Gold Prices – Daily Gold Chart 17th July 2009
News from the Bombay Bullion Association that India’s gold imports had fallen 52% year on year in June to 11.6 tonnes and a fall in jewellery consumption does not seem to have dented investor demand for gold which has seen record inflows as the US...
Spot Gold Prices – Gold Price Chart 16th July 2009
Price action on the gold chart seems to be swinging in favour of the inflationists as the US dollar continues to weaken in the face of better than expected fundamental data and talk of additional stimulus measures given the fragility of the economic recovery. For...
