Lightening up on Gold

Closed out the gold trade today at $1,103 for a $33 move, caught out slightly by the rebound today after the strong move up in the US Dollar yesterday – which didn’t follow through, yet perhaps.
So a good trade but not that satisfying though interestingly Silver not following through on the move and other commodities [...]

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Gold new high

Reporting gold making a new high today, long from 1070 today.  More central banks from emerging economies increasing share of reserves held as gold.
Also, note, interesting action in DX today and although stock market is oversold short term gold often surges a day or two prior to a major sell off – against this I [...]

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Gold unfolds

This is truly a lovely looking chart to a technical trader like myself.  Notable features are the supportive 50 week moving average since 2005, breakouts at about $460, $730 – slightly rebuffed at the $850 area (old 1980 high resistance) then on to test $1,000 for the first time in 2008 and rolling over [...]

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Short term gold picture

Newmont, the Gold ETF (GLD) and gold itself have completed rally’s and (potentially) bearish pennants on the weekly charts.

Gold may face selling pressure in the short term as price meets overhead resistance. Also there are a couple of contrarian indicators which I spotted in this month’s issue of these popular magazines.  Purely on balance [...]

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Friday roundup

Yesterday saw the March rollover for Coffee (Arabica) on finspreads.com – the trade was set to ‘autorollover’ so the profit was banked on my open coffee trades of £1,299 and new trades opened in the May coffee (still 7pp). Up to 162,00 now so still holding for now. May see though – nice [...]

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