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Gold Bullion Spread Betting |
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A review of Gold Bullion Spread Betting.
Also see today's Gold Bullion Spread Betting News.
Gold Bullion Spread Betting - 03 February 2012
Gold had a little move to the upside yesterday and reached new near term highs. This morning the precious metal is at $1758 a touch lower, but still very much in its short term bullish uptrend.
The bulls must be eying up the $1800 level, but the resistance at $1767 and $1790 needs to be overcome first.
Gold Bullion Spread Betting - 02 February 2012
Gold was pretty much flat on the day and couldn’t quite take on the $1750 level.
This is just about the only one of the most popularly traded markets that our spread betting clients are actually long of and so they are hoping for further strength towards $1750 and beyond.
If the risk appetite sustains itself then we could see continued strength in gold as the bulls take on resistance seen at $1760 and $1775.
Gold Bullion Spread Betting - 01 February 2012
The gold spread betting market continues to hover around its recent highs and this morning is at $1738.
Underlying strength in the precious metal seems to be coming from both angles with the price getting support from both increased risk appetite as well as risk aversion when the euro gives back a little bit.
The bulls will be targeting $1748 and $1760 meanwhile support is seen at $1703 and $1680.
Gold Bullion Spread Betting - 31 January 2012
With a stronger US dollar, gold found it hard to break into positive territory yesterday, ending the session down $8 at $1729.5.
It seems investors around the world were yet again nervous about European debt woes, helped by the lack of an agreement materialising with Greece’s creditors over the weekend, which dampened the bullish momentum.
Another factor in the decline may have been profit taking as traders looking at their gold technical analysis may have thought that the precious metal was getting too high above the moving averages.
Nevertheless, at time of writing, the yellow brick has made ground and added yesterday’s losses back on to the price with a tad more, trading at $1743.1.
Gold Bullion Spread Betting - 30 January 2012
After plummeting from its record high of $1920.9 towards the end of last year to lows of $1522.4 on the back of EU woes, investors are now starting to view gold as a safety haven again. This is especially true given that last week the Fed told the markets that US interest rates were going to stay low until at least 2014.
It appears that confidence is being reinstated into investors’ minds that Greece could at the very least avoid a default in the short term. The precious metal rallied $18 on Friday to close at $1738.4, a level last seen on December 8th.
Currently, the shiny brick trades down on the day at $1720.5 as it declines in line with other risk assets.
Gold Bullion Spread Betting - 27 January 2012
The gold spread betting market was also in demand after its initial big spike on Wednesday then that strength continued through to yesterday as the yellow brick smashed through $1700 and onwards to $1730.
The profit taking across risk assets has filtered through to gold as well which is a little lower this morning to $1717.
The bottom line for gold is that if the US is thinking about more monetary easing, gold is likely to be a one way ticket and clients remain heavily long of the metal.
Near term support and resistance is seen at $1703/1680 and $1730/1738 respectively.
Gold Bullion Spread Betting - 26 January 2012
Spread betting investors long of gold yesterday evening would have been whooping with joy.
The precious metal doesn’t pay interest so during a time of low interest rates it is often bought as an alternative asset. This was certainly the case yesterday as, after the news from the Fed that rates would remain low into 2014, there was a spike of some 40 dollars, meaning the highest level since December 12th was reached at $1713.0.
In total for the day, $45.2 was added onto the price of the yellow brick, which closed at $1710.6.
Support was also given from a slumping dollar and fear of inflation further down the road once the global economy gets back on its feet. This morning the bulls are taking a little bit off the top as gold trades at $1705.
Gold Bullion Spread Betting - 25 January 2012
Gold had a go at the $1680 level yesterday and continues with its upward trend, having bounced its way off support areas during its recent little run higher.
Our spread betting account holders remain bullish of the precious metal and will be hoping at some point of a return to the dizzy heights recorded last year around $1900.
Gold Bullion Spread Betting - 24 January 2012
Carrying on with the bullish trend, gold got another boost yesterday, rallying $10.6 to close at $1676.7.
Demand was given a leg up by the slumping dollar, meaning that risk adverse investors were in search for an alternative safety haven amid the European uncertainty.
Chartists and those using technical analysis will be aware that the medium term trend has now turned sideways and the chart shows the 9 and 14 day moving averages crossing above the 40 day MA. At time of writing, the precious metal is seeing a small pullback and is trading down at $1672.0.
Gold Bullion Spread Betting - 23 January 2012
Gold ended the week on a high as nervous investors wanted to hedge themselves ahead of a busy weekend with Greek officials looking to strike a deal with the country’s bond holders.
By the close of business, it had risen $7.7 to $1665.7, the highest move since December 12th, keeping the bullish momentum. Currently, things are still looking good for the precious metal which is trading up at $1669.4.
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.
Gold Bullion Spread Betting - edited by MJ, 03 February 2012.
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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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