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Spread Betting Gold Market Trading |
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A review of Spread Betting Gold Market Trading.
Also see today's Spread Betting Gold Market Trading News.
Spread Betting on Gold - 14 October 2011
Gold hasn't done much either in the past few weeks and this morning is at $1672.
Considering that FX spread betting markets have seen quite a bit of dollar weakness of late, it comes as a bit of a surprise not to have seen more strength in the precious metal.
The bulls are finding it hard to get excited about the yellow brick after all the margin increases which led to the recent sharp correction to the downside. However, our spread betting account holders remain long on the whole, hoping for a return to the dizzy heights around the $1920 area.
Spread Betting on Gold - 13 October 2011
Gold rallied on the back of the Dollar weakness and even got to as high as $1690 before rejecting these dizzy heights and heading back to the mid $1670s.
This morning the gold spread trading market at $1674.0 and already we’ve seen fluctuations between $1680 and $1670.
Slowly but surely the precious metal has been grinding higher since its sharp correction at the end of September in a bid to recapture the $1700 level.
Having said that, the speed with which it has been moving higher is uncharacteristic and when you look at the daily candlestick chart it looks a little like a respite rally before the next leg down.
Spread Betting on Gold - 12 October 2011
Gold was not as favourable amongst investors yesterday as it turned in a little decline down to $1635. The precious metal is at $1670 this morning and so traders will be watching support and resistance levels closely seen at $1650/30/00 and $1685/1700/20 respectively.
Spread Betting on Gold - 11 October 2011
Gold has been creeping gradually higher and is back around $1675.
Following the retracement, the commodity has not enjoyed a similar return to the highs that it has in the past and goes some way to shroud the bulls in doubt about the longevity of gold’s multi-year bull run.
The long term upward trend is still very much in tact, however if the bulls can’t retest the all time highs soon, momentum might just run out and we could test the recent lows again.
Spread Betting on Gold - 10 October 2011
Gold was clinging on to the back of world markets on Friday, as optimism took over once the Non Farm Payroll data had been released, showing a better than expected figure.
Then, soon after the downgrade on Spain and Italy's credit rating, the precious metal lost its grip and plummeted, finally hitting the ground at $1637.6, after losing $11.8. At time of writing, the yellow brick has clawed back Fridays losses, and is trading up at $1659.8.
Spread Betting on Gold - 7 October 2011
Gold’s negative correlation with the US Dollar started to take its form again yesterday, finding direction from the general sentiment on the global economic outlook.
Demand for the yellow metal could grow after yesterday’s central bank manoeuvres. However, the fact that the advance was only $8.5 to $1650.0 on such significant news could show that there is still a heap of caution around. Currently, the spread betting market is still on the rise, trading at $1660.3.
Spread Betting on Gold - 6 October 2011
With the commodity markets bouncing back and equity markets showing a good recovery, investors were keen to help push gold higher as the feel good factor took over the markets.
The level of $1600.0 looks like it’s in place to provide a good support for the yellow brick and the few attempts to break below this were brushed off.
In the end, the precious metal rallied $16 to $1641.4, but still looks set for a period of consolidation within the $1600.0 - $1675.0 range. At time of writing, the gold spread trading market is sitting at $1646.3.
Spread Betting on Gold - 5 October 2011
The three session winning streak that has been helping gold claw back recent losses came to an end yesterday, with the yellow brick losing 36 Dollars, closing at $1624.1.
As in previous sessions, it contradicted the negative correlation it has with the US Dollar, as Fed Chairman Ben Bernanke downplayed inflationary concerns, which in turn lessened the appeal of the precious metal as a hedge against rising prices.
This morning things are quiet after dipping to as low as $1600 yesterday, but we’re pretty much flat at $1625.
Spread Betting on Gold - 4 October 2011
Gold’s bounce back did not end yesterday as investors were still seen to be considering the precious metal a safety haven, buying in to protect themselves from the market limbo caused by a looming Greek default.
As we saw in the previous session, the higher Dollar did not restrain the yellow brick from gaining $36 to close at $1660.0. Currently, the fact that gold is trading back at $1677.0 could mean that we are witnessing the resumption of a new rally after the recent correction wiped $300 off the metal’s price.
Spread Betting on Gold - 3 October 2011
As politicians twiddle their thumbs over finding a fix for the apparent Greek debt crisis, investors returned to the yellow brick as a hedge against the growing market turmoil.
To add fuel to the fire, news that Eurozone inflation had reached 3% last month was not welcomed with open arms, and this spurred further demand for the gold spread betting market.
So despite the strength in the US Dollar, which has lately been acting as a weight on gold’s price, the yellow metal gained $6.8 to end at $1623.2. At time of writing things aren’t slowing down as the rally continues to push gold up to $1649.0.
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.
Spread Betting Gold Market Trading - edited by MJ, 14 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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