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Spread Betting on Gold Bullion |
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A review of Spread Betting on Gold Bullion.
Also see today's Spread Betting on Gold Bullion News.
Spread Betting on Gold Bullion - 20 January 2012
The gold spread trading market did not benefit in the same way as other risk assets and couldn't sustain its strength from earlier in the day.
This morning the precious metal is at $1654, so for now the short term trend remains intact and the bulls will be looking for a test of resistance around $1670/80 whilst they'll be hoping support at $1639/25 will hold up.
Spread Betting on Gold Bullion - 19 January 2012
Thanks to a weaker US dollar, gold enjoyed a third day of gains yesterday as investors viewed the dollar denominated commodity spread betting market as a bargain.
Some may see it as ironic that the asset, used recently as a hedge in the market turmoil, has risen on the back of successful debt auction in Germany and Portugal.
The yellow metal ended the day up $7.6 at $1658.5 and now market watchers will see if the support turned resistance level of $1666.1 can be breached. Currently, the precious metal is up at $1663.4.
Spread Betting on Gold Bullion - 18 January 2012
Gold dipped yesterday as the bulls seem to have lost momentum briefly. With the precious metal at $1652 this morning the recent high around $1665 remains the next hurdle of the bulls.
On the downside they'll be hoping that the near term support at $1640 and $1630 will hold out.
Metal prices have had a good start to the year in general, similar to equity markets, and for that to continue they will rely on a continuation of the build in risk appetite.
Spread Betting on Gold Bullion - 17 January 2012
Gold’s price was boosted yesterday by a slightly weaker dollar as risk adverse investors searched for an alternative safe haven for their assets.
Unfortunately, with low volumes due to a US holiday, the boost was not one worth shouting about and by the end of the session the yellow metal had only gained $4.7 to end at $1643.4.
At time of writing though, it seems that the Americans feel they missed out on the small rally and are catching up as the precious metal is up at $1660.6.
Spread Betting on Gold Bullion - 16 January 2012
Commodities spread betting investors may have looked at gold’s performance last week as though it was attempting to make a comeback, with news of possible further monetary stimulus in China and Europe helping spur on the bulls.
But in fashion with Friday 13th, negative news from S&P about their downgrade on 9 European members’ credit ratings sent investors fleeing from gold and into the latest safe haven, the US Dollar.
All in all, the precious metal lost $10.4 to close at $1639.3, which at time of writing is slightly changed, with the yellow brick trading up at $1643.7.
For some, S&P’s downgrade on the 9 Eurozone members wasn’t a shock, after many a warning from the credit rating agency.
Spread betting account holders will still be waiting to see any follow up on the matter though as attention has been swung back to Europe.
Spread Betting on Gold Bullion - 13 January 2012
The gold spread betting market saw a halt to its recent strength as it initially rallied but then pulled back in line with equity markets later in the day.
The comments from ECB's Draghi helped it to rally in line with the euro and for now the precious metal seems happy within the mid $1600 area as it trades at $1645 this morning.
As we head into the Indian wedding season this could help support the price of gold and goes someway to show that even if it is expensive, people will buy it if they really want to for a special occasion.
Spread Betting on Gold Bullion - 12 January 2012
Gold continues its grind higher as the precious metal has made its way back to $1645 which is where it currently sits at the time of writing.
Bullish sentiment towards the yellow brick has really built up in recent days and our spread betting account holders remain heavily long gold.
They are no doubt hoping that this grind higher will continue to test all time highs, although this is some way off.
Spread Betting on Gold Bullion - 11 January 2012
Gold is creeping ever higher giving the bulls hope that we might see a test of the all time highs set back in August and September last year.
At $1646 this morning upside targets are seen at 1650/60 meanwhile to the downside $1623/04 are seen as support.
Spread Betting on Gold Bullion - 10 January 2012
With the prospect of a new recession rife on investors’ minds, the current trading view on the commodities spread betting markets seems to be pretty short term.
This means that any rally witnessed is shortly followed by a bout of profit taking, unfortunately not helping markets gain any ground.
Not only this, but outlook on the US dollar is an exciting one, with the American economy in better shape, limiting any potential gains in dollar denominated gold.
So after a small rally in the morning session, gold retracted in the face of the stronger US dollar, ending the day down $5.4 at $1610.9. Currently, the precious metal sits at $1616.4.
Spread Betting on Gold Bullion - 09 January 2012
The better than expected US jobs figures on Friday meant that demand as a safety net for gold was thin as investors risk appetite returned.
Not only this but a strong US dollar and possibly a bit of pre-weekend profit taking caused the precious metal to finish down $4.8 bucks at $1618.0 after reaching an intraday high of $1631.1 earlier in the session.
Traders have seen the yellow brick rally from as low as $1522.4 since December 29th and technical analysis suggests that this boost isn’t yet over, with a short and long term bullish trend. Currently, gold is trading up on the day at $1620.1.
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.
Spread Betting on Gold Bullion - edited by MJ, 20 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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