Looks rather well supported in the 1.0500/10 region this morning after yesterday’s bounce courtesy of Mr Bernanke. There are offers up to 1.0550 to chew through before we have another look at more offers from 1.0590/00, but Gold is lending … Continue reading
Gold is up $22 to $1684 but it been unable to break above the 200-day moving average, which comes in today at $1687.
Analysts there say gold may hit $2050 in the third quarter on a weaker USD and higher oil. They say investors should “be wary” of silver.
The UK Treasury is clarifying Osborne’s comments, which hinted at gold buying. Next, we wait for verdicts from the ratings agencies but it’s hard to imagine there will be any quibbles.
Been down to 1646 recently, after the Asian session failed to take out yesterday’s NY highs of 1666.70. It’s been a bit one way this morning in Europe and Gold’s heading down to nearby supports at 1636.25 and 1634.60. Below … Continue reading
Quick run-up to $1655 from $1650. AUD/USD nearing the weekly highs. A close above 1.0557 would also create an outside bullish reversal on the daily chart (spot at 1.0546).