Significant corrections are taking place for both gold and silver. So far this is the sharpest drop seen since the mid august bottom. Each Fib line is currently a possible downside target.Personally, I observe that at the moment some other markets offer superior short term trading opportunities. Silver (Spot price) 8 hours chartGold (Spot price) 8 hours chart
Dear readers,The trend is simply (still) up until it isn't. The move is extended and as the price keeps climbing the risk for a sharp sell off is also increasing. But for now after a modest ~25$ correction gold quickly recovered and made a new high. The trend (since August) support is currently coming at ~758$ . From an Elliott wave perspective (according to my count and understanding )support is
Gold Yen indicates some kind of top (short or mid term) is around here so take note and be conservative with bearish USD speculation.
Dear readers,In recent weeks the Dow Jones World Index had it's worst decline since 2002.On the same page the VIX reached the highest point since 2003.Given recent moves in major currencies (EURJPY 169 – 149, GBPJPY 251-219) gold have been as stable as one can expect from a major independent private currency. This is very encouraging to say the least. Odds still favors higher gold rates more then
By Summer SaidDUBAI (Reuters) - Dubai, already the region's gold trade hub, may see the launch of the Middle East's first gold exchange traded fund (ETF) in 2008, a senior World Gold Council (WGC) official said on Monday."Gold trade in Dubai and the region is definitely booming and the market players need an ETF market to manage their risk and catch up with other international markets," said Moaz
Dear readers,This will probably be the last GCQ7 chart as gold futures contracts are rolled into December and October (GCV7, GCZ7). Hype is all over the place so sentiment indicator probably supports the case for some correction here, As previously mentioned USD is trying to bounce.August Gold - GCQ7 Intraday (120 min) Chart
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