A Quick Look at the Gold Spread Betting Market
Looking quickly at the gold market.
Gold had another poor day yesterday, finally closing at around $950 but buyers still seem confident of a return to the highs. Clients are getting ever longer of the Yellow metal as we fall in price.
With traders getting so confident in one direction it is tempting to look in the other (natural perverseness I am afraid). With indices continuing to hold above the very major support levels it is beginning to feel as though we are either in for a huge rally or the mother of all disasters. A disaster would drive Gold to the heavens a rally and we could be back around $600 to $700 dollars in very short order.
More trading thoughts from Simon Denham >> Spread Trading.
Good Luck!
DB
The above comments do not constitute investment advice Clean Financial accepts no responsibility for any use that may be made of them.
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