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Commodities Briefing - Categorized | Bullion/Gold, Trends more

Has the gold price now turned the corner?

Posted on 25 March 2013

Gold bounced off $1,560 a target that it had held for the last year and more. It consolidated at $1,580 and has now tackled $1,600.The bounce was off the long-term trend line. While resistance in the higher $1,600 area could be formidable a look at the reasons why it fell through support at $1,650 is worthwhile.
Recent Fundamentals: The prime cause of the gold price falling so much in the last few months, has been the over 100 tonnes of sales from the SPDR gold Exchange Traded Fund, an amount that triggered a considerable amount of stop loss selling………………………………………..Full Article: Source


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VRS - who has written 39496 posts on Opalesque Commodities Briefing.


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