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UK Gold Market Spread Betting |
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A review of UK Gold Market Spread Betting.
Also see today's UK Gold Market Spread Betting News.
Spread Betting on Gold - 30 September 2011
Gold is facing its biggest monthly fall since 2008. It is currently trading at $1627 and is showing support at $1604 and resistance at $1653.
Spread Betting on Gold - 29 September 2011
The gold spread betting market's volatility continues and as other currencies just about have the edge on the Dollar this morning, the precious metal is seeing a little bit of strength early on.
The yellow metal is currently trading at $1632 following a weak session in Asian overnight. Bulls will be looking for a test of resistance at $1675 meanwhile they'll be hoping support at $1600/1585 and then of course the major recent low at $1535 will hold up.
Spread Betting on Gold - 28 September 2011
The roller coaster that is gold has found a bit of calm in the last couple of days.
The gold spread betting market is at $1654 at the time of writing and the bulls will want to test yesterday's highs around $1676. At the same time, in the near term they'll be hoping support around $1630 will hold up.
The mass shake out earlier this week will have interested many people who've been waiting for a sharp correction like the one we saw so they could go long.
For now the long term uptrend is still very much intact so a test of the all time highs in the future should not be ruled out.
Spread Betting on Gold - 27 September 2011
With uncertainty about European debt potentially threatening to push the world back into recession, investors would usually expect to see risk averse market participants piling into safety havens such as gold.
This was not the case in yesterday’s session, where it appeared the favourite asset was cash as near future liquidity issues were on the minds of traders.
After plummeting to an intraday low of $1532.0, gold settled at $1627.3 and this morning it’s trying to claw back some of the recent losses as it trades at $1623.0.
Spread Betting on Gold - 26 September 2011
Gold is the fall guy today and, at the time of writing is at $1592, a good bounce off its lows from earlier though.
This $250 decline since Thursday has the feeling of a bubble being popped but even still the long term upward trend still remains intact.
The yellow metal was heading for its worse two-day drop since 1983. It’s a difficult one really, because when do you think enough is enough and buy the dip?
Either way, for most, it will always be seen as a safe haven, so who knows how much longer it will be before some think enough is enough and dip a small toe in?
Spread Betting on Gold - 23 September 2011
Gold has managed to hold onto the $1,700 as bulls continue to get a little nervy about the precious metal’s recent weakness.
This morning gold is seeing a little bounce to $1,747.
Spread Betting on Gold - 22 September 2011
Gold’s support, provided by the weaker dollar, was nowhere to be seen yesterday.
The yellow metal failed to gain any ground from the Federal Reserve announcement of the near-to-far $400 billion bond liquidity switch. In fact, the metal fell in tandem with equity markets.
It seems that traders prefer to use the greenback as a safe haven in the short term and yesterday’s drop resulted in the precious metal falling below its 40 day moving average.
At time of writing, the losses are being extended and the gold spread betting market is trading around the $1,771.0 level with InterTrader.
Spread Betting on Gold - 21 September 2011
Bargain hunters did not wait for gold’s lower support of $1,750 yesterday before jumping into the safety haven, helping the metal claw back some of the previous session’s losses.
Most market participants will be looking at the FOMC meeting this evening. At time of writing, the precious metal is trading up on the day at $1,812.0.
Spread Betting on Gold - 20 September 2011
Gold’s safety haven status was nowhere to be seen yesterday.
Investors were drawn more to the greenback and government backed bonds for protection of their money, as riskier assets such as commodities were out of favour due to hovering concerns over Greek debt and US growth worries.
If the current support is broken, then traders will look for the next technical level of $1750.0 and it will be interesting to see if there are any bargain hunters in sight.
Spread Betting on Gold - 19 September 2011
To state the obvious, gold has been keeping its safe-haven status amid the recent volatile markets and has consistently been trading with a negative correlation to world stock markets.
The trading session on Friday blew the previous statement out of the water and after dipping past the previous day’s lows, it then followed on to rally $60. It looks as though market participants didn’t want to leave their shorts on over the weekend and were happy to buy even with both equities and the dollar rallying.
At time of writing, the metal is continuing its rally and trading at $1,825.0.
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.
UK Gold Market Spread Betting - edited by MJ, 30 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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