Dear readers,Spot gold reached the head and shoulders target. On an Intraday basis I see significant resistance at 648$ , In addition my Elliott wave count Indicate that gold have completed or is very near to complete a 5 upward wave pattern. I conclude that pullback is likely from here but not lower then 590$.
Dear readersPlease review :Interesting paper by Martin W. HenneckeElliot Wave Gold Update X by Alf Field Tarapore, former deputy governor, Reserve Bank of India and economist, has strongly advocated for increasing the proportion of gold in the country’s forex reserve.MUMBAI, NOV 28: Underscoring the benefits of diversifying foreign exchange reserves and the uniqueness of gold component as part
COMEX Metal Futures on the CME Globex PlatformNew York, N.Y., November 21, 2006 -- The New York Mercantile Exchange, Inc. announced today that it will expand COMEX metals electronic trading to include side by side trading, COMEX miNYs, Asian metals, and London metals futures contracts on the CME Globex® electronic trading platform beginning on December 3 for trade date December 4.NYMEX will
Today at 11:38 (GMT) CBOT Gold Futures Contracts took a deep of about 20$ then fully recovered in less then one minute. About 1100 contracts traded (110,000 Troy ounces) for the ZG contract, According to the CBOT website the mini gold contract (YG) traded as low as 608.8$ while the full size contract (ZG) low was 604.0$.At the same time NYMEX – COMEX gold contract (GC) was quoted not lower then
Dear readers Gold and silver have performed well the last several weeks. Gold bottomed at 558$ and is up 77$ since then. Gold and silver have managed to overcome the diagonal downtrend resistance coming from the May top, the event draw lots of attention and market participation is and was high. Please note that I do see signals of short term topping and even in a relatively bullish scenario the
Dear Readers, Few short notes.1) October low is higher then June low.2) Inverted head and shoulders pattern is in place (price objective =~642$)3) Areas of resistance = 644$ - 648$, 676$, 730$.4) Today's minor pullback is uptrend constructive in my opinion. See also Platinum charts analysis, below is 8 hours intraday (24 hours) Spot gold chart.
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