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Online Gold Spread Betting |
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A review of Online Gold Spread Betting.
Also see today's Online Gold Spread Betting News.
Spread Betting on Gold - 28 October 2011
The slide in the US dollar against the single currency helped accentuate the price of gold, which drew in bargain hunters as they transferred their cash in to high yielding assets.
One thing that could have been playing on trader’s minds was the fact that this bout of extra funds could actually be seen as disguised monetary easing, meaning future inflation.
We all know what investors believe is the best hedge against inflation when interest rates are low.
All in all, the yellow brick added $19 to its price, closing at $1744.7 and, at time of writing, investors seem to be taking a breather, with the commodity down a tad at $1739.3.
Spread Betting on Gold - 27 October 2011
After gold’s surge on Tuesday, the bulls couldn’t follow things through in yesterday’s session as we traded sideways for the session and that’s continued into today’s trade.
The precious metal is at $1715 this morning and looking a little directionless at the moment.
The bulls are finding little reason to try and push the price higher and many gold traders seem to have been left scratching their heads following yesterday’s summit.
Spread Betting on Gold - 26 October 2011
Gold saw a huge jump yesterday as investors sought the precious metal as a safe haven ahead of today's summit.
The weak consumer confidence numbers from the US were also seen as a driving force behind the surge.
The rally of 2.5% puts the bulls back in control of the yellow brick and this morning that buying momentum is continuing as we're another $12 towards the heavens at $1712.
Key levels to watch for the gold spread betting market now are $1690/72/59 to the downside and $1725/30 to the upside.
Spread Betting on Gold - 25 October 2011
The tables have turned for the gold spread trading market. Now optimism over the European debt tragedy seems to be a key driver for the precious metal, unlike previous months where pessimism had been causing investors to use gold as a hedge.
Market participants also saw the usual suspects help gold increase, with a weaker dollar making the commodity more appealing. In addition, the seasonal benefit of the wedding months in India meant that demand for physical gold was high as the yellow metal is a favourite gift.
All in all, gold finished the day up $12, ending the day at $1652.6 and at time of writing we haven’t seen substantial direction added, as it trades at $1654.7.
Spread Betting on Gold - 24 October 2011
The three consecutive sessions of losses on the gold spread betting markets came to an end on Friday, as investors closed their short positions ahead of the EU summit on the weekend.
Other contributors to the rally were the weaker US currency and general market optimism regarding a resolution over the EU bailout fund which would recapitalize the banking system and prevent the Greek crisis from spreading any further.
All in all, the precious metal gained $31 to end at $1640.5 and this rally has been added to this morning as gold trades at $1651.7. It is, however, still locked in the sideways range of $1600.0 - $1675.0.
Spread Betting on Gold - 21 October 2011
Even though the dollar is a little stronger this morning, the gold spread betting market is higher by 60 cents to $1625.
Yesterday gold had another look at $1600 but has found some support from the bulls. Here is a market that has seen such substantial gains in the past few years, but since margins were hiked by the exchanges, the momentum seems to have come to an end.
The sideways move over the past month doesn't look vastly encouraging for the longer term prospects of gold's bull market. However, I seem to remember people have said similar things in the past and then the metal shot off higher again.
Spread Betting on Gold - 20 October 2011
The disappointing diagnosis on the state of the US economy helped weigh on global equity markets, which meant gold’s losses were extended for the third day in a row.
It shows that risk adverse investors are still keeping a wide berth from the yellow brick and have surely dumped its safe haven status in the trash.
By the end of the trading session, the precious metal had $11 wiped off its value, pricing it at $1643.1. At time of writing, it’s looking like we could be in for a fourth loss filled session, as the yellow metal is down to $1610.
Spread Betting on Gold - 19 October 2011
Gold’s decline was far from coming to an end yesterday, as the commodity spread betting market was mainly dragged down by concerns on the Chinese economic growth outlook.
It seems that investors have changed the way they regard gold, whether this is just for the short term or not, and are not using the precious metal as a safety haven during these turbulent times.
At the end of the session, gold had shaved off $16 and sat at $1654.2 after hitting an intraday low of $1626.4. At time of writing, it looks as though we could be in for a repeat today, as the yellow brick is down at $1649.2.
Spread Betting on Gold - 18 October 2011
Gold’s safe haven status yesterday lost points to the dollar, which investors seemed to regard as the less risky bet as their optimism faded over the fate of the European banking system, causing equity and commodity markets to slump.
At the end of the session, the precious metal hadn’t quite been able to break below the 9 day moving average, but did lose $10 to rest at $1669.5. The bears are still in the stronger corner this morning though, as the gold spread betting market is trading further down at $1662.5 testing that support.
Spread Betting on Gold - 17 October 2011
With the equity markets strengthening and the greenback sliding, market participants appeared to be in the mood to snap up some deals on Friday and were drawn to gold, helping push its price higher in a session where risk takers were apparent.
Whether it was the better than expected economic data from across the Atlantic that increased optimism as to whether a recession will be avoided or the strong physical demand from Asia that made the precious metal so attractive, one factor that definitely offered support was the increasing hopes the G20 finance ministers will find a solution to the euro area debt troubles.
All in all, the yellow metal gained $15 to close at $1,680.5, which at time of writing, hasn’t had much added to it, as gold is trading at $1,682.1.
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.
Online Gold Spread Betting - edited by MJ, 28 October 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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