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Spot Gold Daily Chart – 21st May 2009

With the euro achieving its strongest level against the US dollar since January spot gold prices closed dramatically higher as investors begin to return to commodities not for a better return but also because of worries about future inflation.  In addition the inverse correlation between...

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Gold Spot Price Daily Chart 20th May 2009

Spot gold prices ended the day $7.30 higher to settle at $925.75 per ounce reversing much of the loss of Monday and closing above the 9 day moving average and all three moving averages once again.  With equities markets having a more stable day it...

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Gold Spot Price – Daily Gold Chart 18th May 2009

Friday’s decline in equity markets boosted the spot gold price as gold traders and investors begin to fret about inflation as governments continue with quantitative easing programmes and stimulus packages in an effort to halt the slide in the global economy.  As a result the...

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Gold Spot Price – Gold Spot Chart 15th May 2009

The following commentary combines two days of gold trading technical analysis owing to problems with the internet.  Wednesday saw gold prices rise to a six week high of $930.60 per ounce on the back of safe haven buying as equity markets retraced, but in afternoon...

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Gold Spot Price – Gold Chart 12th May 2009

On a day which lacked any fundamental news of any significance spot gold prices were confined to Friday’s trading range although some price support did come in from falls in both equities and the oil market.  Spot gold prices eventually ended the day $3.05 lower,...

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Gold Spot Price – Gold Chart 11th May 2009

Slightly better than expected non farm payroll data prompted gold traders into a round of profit taking as equity markets responded favourably to the possibility of a flattening in unemployment and a small positive signal that the worst may now be over.  However, the late...

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