gold trading

[charlly007]

What is this site all about.You started a thread and you did not explain more on it.I don't know what we are dealing with and how to deal with it.

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While easing off early highs yesterday above $1410.00 a troy ounce, the most active gold contract for April delivery found technical support around $1395.00 and today remains to the upside of $1400.00 on the prospect of full-fledged civil war in Libya as well as unrest spreading to other countries in the region.

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Precious metals were mixed on Friday morning, with an easing in crude oil prices helping to limit safe-haven interest in gold, which was consolidating its pullback from yesterday’s near-two-month highs.

Spot gold, which had touched $1,418.30, its best since January, 4 on Thursday, was indicated around $1,403.70/1,404.50 per ounce, little changed from the $1,403.30 close yesterday.

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Gold on the Comex division of the New York Mercantile Exchange regained some of its footing on Friday after slipping overnight due to easing oil prices, benefitting when US fourth-quarter GDP revision came in below expectations.

Gold futures for April delivery were recently trading down $8.20 at $1,407.60 per ounce in New York.

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Spot gold inched up on Monday, heading for its best month since last August, boosted by fears over the deteriorating situation in Libya and spreading violence in the region, supported by rising oil prices.

Spot gold inched up 0.3 percent to $1,413.40 an ounce by 0621 GMT, extending gains from the previous session.

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Spot gold held steady just below $1,410 on Tuesday, as investors continued to watch the unfolding unrest in Libya and other nations in the region as well as oil prices.

Spot gold edged down $1 at $1,409.85 an ounce by 0035 GMT.

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Gold on the Comex division of the New York Mercantile Exchange fell victim to some profit-taking on Thursday as the previous day's all-time record high and reports of the possibility of a peace plan in Libya had the market feeling a bit heavy.

Gold futures for April delivery closed down $21.30, or 1.5 percent, at $1,416.40 an ounce in New York. Trade ranged from $1,412.20 to $1,436.90.

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Gold surged to fresh intraday peaks in late Friday afternoon business, rising alongside oil as tensions across the Middle East and North Africa (Mena) intensified.

Spot gold rose to an intraday peak of $1,432.18 per ounce in late afternoon trade and was last at $1,431.30/1,432.15, $16.55 higher.

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The answer to the question "where will gold prices go in 2011" is one of the most sought after predictions on Wall Street.

Gold prices rose 400% in the past decade and made a record breaking run in 2010, rising 26% and hitting an intraday high of $1,432 an ounce.

Goldman Sachs(GS) has predicted $1,650 an ounce for gold in 2011, although has called for a top in prices during 2012. The company also released a note recently that listed all the reasons why investors shouldn't own gold.

Morgan Stanley(MS) has a 2011 gold price target of $1,512 an ounce while JPMorgan(JPM) will now accept gold as collateral.

Mark Bristow, chief executive officer of Randgold Resources(GOLD), is also betting on a price target of $1,500.

Nick Holland, CEO of Gold Fields(GFI) declined to give his forecast for a high, but believes a solid floor for prices has been set.

Chuck Jeannes, CEO of Goldcorp(GG), said reaching $1,500 an ounce is "easily achievable." Jeannes said its important to consider highs adjusted for inflation, which could push the price as high as $2,300.

Mark Cutifani, CEO of AngloGold Ashanti(AU), expects gold to trade between $1,300 and $1,500. Aaron Regent, CEO of Barrick Gold(ABX) also said he believes the "forward curve would suggest a gold price in the $1,500 range."

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Gold for April delivery added $9.30 to close at $1,421.80 an ounce at the Comex division of the New York Mercantile Exchange. The gold price has traded as high as $1,423 and as low as $1,404.80. The spot gold price was adding $9.40, according to Kitco's gold index.

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Gold futures are once again supported by overall uncertainty enveloping the marketplace, in the face of yesterday´s Security Council agreement for a no-fly zone in Libya as well as the G7´s consensus for market interventions in order to restrain yen appreciation.

The front-month gold contract is up more than $20.00 on the day so far, surging past technical resistance at $1420.00 in recent trading and reaching as high as $1424.10. Over the week, the future had come under modest bearish pressure amid the overall market sell-off which saw traders liquidating gold contracts in order to cover losses in other areas.

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Gold on the Comex division of the New York Mercantile Exchange eased modestly on Friday afternoon on pre-weekend book-squaring and profit-taking.

Gold futures for April delivery were recently down $7.60 at $1,427.30 per ounce. Yesterday, the yellow metal touched $1,448.60, an all-time high.

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Prepared by Jamie Saettele
A break of long term trendline support is needed in order to suggest that an important top has formed in gold. The trendline is at 1357 this week. Near term, the new high makes 5 waves and should give way to at least a corrective decline back towards 1420.

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Gold on the Comex division of the New York Mercantile Exchange pulled back by about 1.4 percent on Friday soon after the release of a positive US non-farm employment report for March.

Gold futures for June delivery were recently down $19.70 at $1.420.20 per ounce, which is near the morning's low.

[berata]

Gold is one of the best investment. It can be for long term, middle or a short term investment. So it is so flexible. Even though the standard price is fluctuating.

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Spot Gold (NY Close): $1432.30 // +9.28 // +0.65%
Prices are testing a familiar barrier at $1439.95, with a break higher clearing the way for an advance to test resistance in the $1444.85-1447.55 region. Alternatively, a reversal lower sees initial support at a previously broken falling trend line established from the 3/2 swing high, now near $1412.

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Gold futures remain broadly bullish due to the uncertain economic as well as geopolitical environment, posting fresh all-time highs today above $1470/ounce. The most active contract for June delivery peaked at $1472.60 just prior, around $10 above yesterday´s record close.

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Spot Gold (NY Close): $1458.07 // -1.63 // -0.11%
Gold prices have produced a bearish Rising Wedge chart formation below resistance at $1459.98, the 123.6% Fibonacci extension of the 3/7-3/16 decline. A break through the $1437.00-1447.55 region is needed for bearish confirmation, subsequently exposing $1417.25.

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Spot gold reached historic heights to later cool off during the early European trading following the lead set by inflationary concerns stemming from China, as well as rising oil prices caused by the ongoing MENA conflicts.

The precious yellow metal skyrocketed to an all-time record breaking level of $1,479.55 per oz. the coveted commodity found its way down later easing almost $5 to rest at the area $1.,472.30/1,473.10.

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Spot Gold (NY Close): $1474.18 // +16.88 // +1.16%
Prices are testing resistance at $1476.45 – the April 11 high – with negative RSI divergence hinting a double top may be in the works. Initial support lines up at the bottom of a rising channel set from late January, now at $1450.37. A break through here initially exposes the 38.2% Fibonacci retracement of the 3/15-4/11 advance at $1439.89. Alternatively, a break higher exposes resistance at the channel mid-line, now at $1487.35.