With geopolitical matters now taking centre stage as North Korea continues to increase tension with various threats markets have yet to decide how to respond, but it is curious and interesting to note that both the currency and commodity markets are reacting in a very...
Spot Gold Price – Gold Price Chart 26th May 2009
With markets closed in both the US and UK for a national holiday spot gold prices drifted for most the day and ended one dollar down closing at $956.05 per ounce. From a technical perspective the candle finished as a long legged doji suggesting that...
Spot Gold Price – Daily Gold Chart 25th May 2009
Historically spot gold prices tend to slide in late May and languish through the summer primarily because of the seasonal ups and downs of jewellery demand. Trader reaction would normally be to go short particularly as the spot gold price has risen by more than...
Spot Gold Price Daily Chart – Gold Prices 22nd May 2009
Yesterday’s wide spread up bar saw spot gold prices surge through our initial target of $950 per ounce which I outlined in yesterday’s market commentary for gold prices, settling at $952.55 having gained an impressive $15.44 on the day, but more importantly breaking through the...
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...
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...
Gold Spot Price – Gold Prices Daily Chart 19th May 2009
Spot gold prices finished lower as commodities and currencies took their cue from equity markets which saw triple digit gains, achieved in a vacuum on a day bereft of any fundamental news on the economic calendar, closing the day $11.85 lower and settling at $918.85. ...
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...
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...
Spot Gold Price – Gold Price Chart 13th May 2009
Spot gold prices surged yesterday gaining $12.83 to settle at $925.80 per ounce on the back of a weaker dollar and and traders noting that net long positions in Comex gold futures had increased slightly for the week ending 5th May – up by 891...
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,...
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...