The Intraday (10/24) bullish reversal for gold and silver certainly support the bull case. Below are weekly charts for spot gold and silver annotated with Fibonacci and support resistance diagonals.
Dear readers,I'm posting a spot gold chart with the latest Fibonacci set for your convenience.For more charts and info browse the archive , see also goldandsilverstocks.blogspot.com and cmd-chart.blogspot.com
Gold might be finally bottoming and higher prices are about to follow. Obviously it is not guaranteed and any market participant should make his own decision. I would favor initiating long position at current prices while keeping enough cash for averaging down or up.The two charts below present the case for what I assume to be important secondary bottom of this great global gold bull market.
Dear readers,I'm posting Gold/Euro and Gold/Yen Fibonacci charts for your reference, notice the stochastic crossover.click on the charts for larger view.
Some of the latest gold market news from around the world:Singapore gold fund trading starts next weekSINGAPORE, Oct 5 (Reuters) - StreetTRACKS Gold Shares (GLD.N: Quote, Profile, Research), the world's largest gold exchange-traded fund, would be cross-listed in Singapore next week in a move to capitalise on Asia's growing fondness for bullion.It will be listed on Oct. 11 on the Singapore
1) The Dow Jones Industrial Average made a new all times closing high of 11,727.2) Gold is sharply lower. Cbot gold trading had another serious malfunction today (not the first one this year…), AMEX GOLD BUGS INDEX is down 6.67% for the day.3) The Dow / Gold ratio is nearing completion of an A-B-C correction wave – in my opinion.4) The Gold/Oil ratio closed above its 200 weekly moving average
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