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Financial Spread Betting on the Gold Market |
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A review of Financial Spread Betting on the Gold Market.
Also see today's Financial Spread Betting on the Gold Market News.
Financial Spread Betting on the Gold Market - 22 December 2011
In commodities spread trading gold can’t seem to maintain any traction above $1,600 as it’s drifted sideways to slightly downwards in the past few sessions.
At $1,615 this morning, key levels to watch are $1,588 and $1,582 to the downside, with $1,641 and $1,650 to the upside.
Financial Spread Betting on the Gold Market - 21 December 2011
Gold has seen a renewed interest as it made strong gains yesterday and is firmly back above $1600, trading at $1630 this morning.
The bulls seem to be back in town and any increase in the risk appetite that has built up recently could add further strength to the precious metal.
Financial Spread Betting on the Gold Market - 20 December 2011
After breaking for air above the $1600.0 mark, gold found it hard to stay afloat and fell back at $1593.6, down $4.4 for the session.
Most of the downward pressure was supplied by the strengthening US dollar, but also the ECB’s parrot-like rhetoric despite growing signs that markets are pricing in a return to recession.
Currently the yellow brick is trying to get that breath of air again and is trading at $1600.3.
Financial Spread Betting on the Gold Market - 19 December 2011
The gold spread betting market suffered its fair share of weakness last week as it looked like the bulls had pretty much given up on the precious metal all together.
The yellow brick has bounced quite well from the mid $1500 area and is testing $1600 again this morning following a brief visit to that level on Friday.
For many this will present a huge buying opportunity, especially if some investors hadn't been on the band wagon in recent months or years.
It's still too early to say that the gold rush is over as there are many bulls out there still calling for $2000 plus prices. In addition even though gold is itself a risk asset, many people would rather hold that than US dollars. The yellow brick is at $1596 at the time of writing.
Financial Spread Betting on the Gold Market - 16 December 2011
Holding a narrow range, the gold spread betting market managed to end the session with only a $3.6 loss, finishing at $1570.2 after touching a new recent low of $1560.1 earlier in the session.
It seems that EU officials are struggling to bring positive news to the markets and, with technical indicators showing that the bears are winning the battle, it’s not looking pretty for the yellow brick.
At the time of writing though, there are still some bargain hunters left as the precious metal is trading up at $1590.1.
Financial Spread Betting on the Gold Market - 15 December 2011
Dragged down by the heavily slumping euro, investors saw gold drop to levels not seen since late September. The metal broke through the psychological support level of $1600.0 and didn't stop there as it carried on falling, ending the session down $57.4 bucks at $1573.7.
The reason for the third bearish day in a row was the worsening state of the European economy, pushing traders into the safety of the US dollar and out of commodities.
A few months back, risk adverse market participants would turn to gold as a hedge against turmoil, but the tables have surely turned and now any sign of a downturn and the yellow brick is dumped.
The next test is $1532.0, which will be the lowest level seen since early July, but at time of writing, the price is shying away from this level and is trading up at $1584.9.
Financial Spread Betting on the Gold Market - 14 December 2011
Pressure on gold was given yesterday from a strengthening dollar and ongoing fears over an escalation in the European debt crisis.
Signs were also there that a number of economies were seeing lower inflation and, as gold is often used as a hedge against this, demand was reduced for the precious metal.
By the end of the session, those spread betting on gold saw the yellow brick lose $35 to $1630.9, a level that hasn’t been seen since October 21st.
Financial Spread Betting on the Gold Market - 13 December 2011
Gold traders were given a rude awakening in the early hours of yesterday morning when their gold price alerts were set off ringing.
The gold spread betting market dropped $20 within a matter of minutes and later on in the session the stronger dollar and weakening equity markets helped stretch out the loss. This came as investors' concerns were accentuated over a possible downgrade of the European sovereign debt from Moody's.
All in all, the precious metal shed $43.9 to close at $1666.8 and, at time of writing, the losses carry on, as gold trades at $1662.0.
Financial Spread Betting on the Gold Market - 12 December 2011
Despite the bearish trader sentiment, gold isn’t being seen as the safe haven it once was, but more of a traditional commodity.
It is down this morning at $1688, in line with other metals including copper, aluminium, zinc and nickel.
Spread betting and CFD trading carry a high level of risk and you can lose more than your initial deposit so you should ensure spread betting or CFD trading meet your investment objectives and if necessary seek independent advice.
Market Commentry from Financial Spreads.
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Financial Spreads - tax free* trading on over 2,500 spread betting markets. With a Financial Spreads Account you can trade commission free, 24 hours a day on stock market indices, forex, shares commodities and...read review » Financial Spreads.
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With financial spread betting you can lose more than your original stake or investment. Spread betting carries a high level of risk to your capital. Please familiarise yourself with the risks that are involved and before trading, ensure that financial spread betting matches your investment objectives. Seek independent advice where necessary.
Financial Spread Betting on the Gold Market - edited by MJ, 23 December 2011.
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With spread betting you can lose more than your original stake or investment. Spread betting carries a high level of risk to your capital so please familiarise yourself with the risks that are involved and, before trading, ensure that spread betting matches your investment objectives. Seek independent advice where necessary.
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* Based on current UK tax law. Tax law may change and can differ depending on your personal circumstances.
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