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Gold Market Spread Trading |
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A review of Gold Market Spread Trading.
Also see today's Gold Market Spread Trading News.
Gold Market Spread Trading - 06 January 2012
Gold is flat this morning having seen a decent gain in the past few days recovering ground above the $1600 level.
At $1623 this morning the bulls seem to being taking a respite for now and will probably wait to see the outcome of the NFP before committing any further.
Gold Market Spread Trading - 05 January 2012
The gold spread betting market has done well out of the last few days as a bit of risk appetite for the precious metal returns and it also recovers some of its safe haven status.
Up again this morning at $1621 the levels the bulls will be watching to the upside are $1634/40 and to the downside $1609/1594.
Gold Market Spread Trading - 04 January 2012
Gold has the wind in its sails on the commodity spread betting markets as the yellow metal returned back above the $1600 level yesterday. Still below its 200 day moving average, which sits at $1630, this is the next target for the bulls but there could be quite a bit of resistance here.
The precious metal is trading at $1616 this morning so other key levels to watch are $1590/80/60 to the downside and $1621/30 to the upside.
Gold Market Spread Trading - 03 January 2012
Gold suffered some selling in between Christmas and New Year but has recovered well in the past few sessions dragging the spread betting market back towards the $1600 level.
At the time of writing the yellow brick is trading at $1586 and has been benefiting from the rise in geopolitical tensions in Iran as the safe haven status comes back into play somewhat. Support and resistance is seen at $1560/42 and $1600/13 respectively.
Gold Market Spread Trading - 29 December 2011
In gold spread trading, the metal continued its downward fall yesterday. We probably had a strengthening dollar to thank for a large portion of the fall.
The fact that the yellow brick also continues to sit below its 200 day moving average doesn’t help, as this acts as an additional weight pushing it down.
We are now not too far from the spike down we had back in September, around $1,536. Given that markets do have a tendency to re-test spikes, it would certainly seem reasonable to view this as a short-term target.
The long term trend is still up for the yellow metal, although the recent sell offs are requiring a re-adjustment of just where to place that long term trend line.
$1,530 / $1,536 are strong support levels, while we could see resistance around $1,600 if we bounce form here.
Gold Market Spread Trading - 28 December 2011
Gold lost a little bit of its shine yesterday as it dipped below $1,600 again.
December is turning out to be a poor month for the precious metal as it’s on course for an almost double digit percentage decline.
Over the longer term gold remains underneath its 200 day moving average which is proving a nervy sign for the bulls.
A close back above $1,628 will give them more confidence but as long as it remains below this technical barrier then gold’s multi-year bull market will be called into question.
The last time gold went below the 200 day moving average was in 2008 and we all remember what happened then. This morning the metal is softer again at $1,585.
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 Trading - edited by MJ, 06 January 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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