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Gold Market Spread Betting UK |
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A review of Gold Market Spread Betting UK.
Also see today's Gold Market Spread Betting UK News.
Spread Betting on Gold - 16 September 2011
The favourite commodity amongst investors is burning their fingers a little more each time it declines.
Gold is now firmly below $1800 at $1775 it is looking rather bearish at the moment with the short term trend downwards, capped by a falling trend line.
Support and resistance for the yellow metal is seen at $1745/25 and $1840/86 respectively.
Spread Betting on Gold - 15 September 2011
Gold continued to head sideways and over the past few days it really has been out of the headlines.
At $1810 this morning, the bulls remain nervous over the double top which looms large and an upper downward trend line resistance has formed, putting more pressure on the bulls.
Near term support and resistance for the yellow metal is seen at $1795/70 and $1830/50/86 respectively. One gets the feeling that the recent calm in this market might lead to a big move in either direction sometime soon.
Spread Betting on Gold - 14 September 2011
The gold spread betting market has been hovering around $1830, flirting with the $1800 level, and whilst the Euro situation unfolds traders are unsure about how to position themselves in the yellow metal.
We’re at $1828 at the time of writing and the focus remains on what might come of today’s Merkozy meeting and what might be the possible outcome of Friday’s G7 meeting.
Until then we might well trade sideways for now, with the ominous “double top” still looming in traders’ minds.
Spread Betting on Gold - 13 September 2011
Banks on the French stock market were one of the reasons for the drop in gold’s price yesterday. They’re rumoured to have a large exposure to Greece, which is on the brink of bankruptcy.
As a result, investors were yesterday preparing for chaos and removing their money from assets and into their mattresses after taking more seriously the saying “cash is king”.
The yellow brick lost in total $43 to end the session at $1813.6, the support provided around the $1800.0 level. At time of writing, potential hedgers are seeing a small bounce, as the precious metal is trading at $1823.0.
Spread Betting on Gold - 12 September 2011
Friday morning’s session saw many commodities spread betting markets lose a lot of ground as the Dollar strengthened and therefore they were more expensive in Dollar terms.
Whilst gold fell, it struggled to stay down as concerns over Greece defaulting on its debt obligation flared. Equity markets felt the brunt of this, with investors pulling their money out of riskier assets and throwing their cash into safe havens.
The yellow brick ultimately ended the day down $13.7 at $1855.5. At time of writing though, despite the falling equity markets, gold still seems to be out of favour, as it’s trading down further at $1835.0.
Spread Betting on Gold - 9 September 2011
Gold attempted to gain more of the lost ground from Wednesday, rallying back above $1850, and is continuing in that fashion this morning with the yellow metal at $1876.
The double top formed on the daily chart looks dangerously like not materialising as the metal is racing higher again and not far off testing its all time highs once again.
It would seem that any sort of correction at the moment simply provides the bulls with yet another buying opportunity.
Spread Betting on Gold - 8 September 2011
The shares spread betting markets’ rally yesterday didn’t do much good for gold. The yellow metal plummeted some 3%, hitting a low of $1800 and actually closing below its 9 and 14 day moving averages.
At time of writing though, after the excitement has started to quell, it looks as though the hasty traders have actually realised that the uncertainty in the global economy is unlikely to disappear and gold is back up at $1840.
Spread Betting on Gold - 7 September 2011
FX spread betting markets were all about the Swiss Franc yesterday which saw significant weakness after the Swiss National Bank decided to cap the strength in the Franc at SFr 1.2000 to the Euro.
This caused gold to plummet yesterday as investors chose to release funds and hop on the Swiss move. This could mean that risk-averse participants will have one less haven to find safety in. They showed their dismay at this by pushing the precious metal down $28 to $1873.5, after stretching to a new all time high of $1920.9 earlier in the session.
It doesn’t look like investors have calmed yet either, as at time of writing, the hedging favourite is down a further $21 to $1846.9.
Spread Betting on Gold - 6 September 2011
Investors yesterday wanted to find a protective cover to hide under as fears of a second recession splattered the markets.
This cover appeared in the form of the yellow metal and traders grouped under the hedging favourite as equity markets dumped and safety havens rallied.
At the end of the session, the precious metal had gained $16.2 to $1899.6, opening up the way for an attempt at breaking the August 22nd high. This was no problem this morning, as market participants witnessed the gold spread betting market touch a new all time high at $1921.
Spread Betting on Gold - 5 September 2011
Disappointing Non Farm Payrolls helped spur investors back into the gold spread betting market on Friday as they were reminded that the largest economy in the world is still in trouble.
This came after a round of weak manufacturing data, boosting the need for a currency alternative and therefore sending risk-averse traders into the yellow metal.
The fall in the equity markets though this morning hasn’t sparked a further rally, as gold is hovering around the $1885 level at time of writing.
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 Market Spread Betting UK - edited by MJ, 16 September 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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