Gold Broker
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Quick and simple answers to the most common Gold questions:
Q) Where can I Spread Bet on Gold?
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Gold Spread Trading
A regular Gold spread trading update by Simon Denham of Capital Spreads. For the latest gold spread trading update, click here.
Gold Spread Betting Comment, 23 Nov 07
Gold has been the big gainer (once more) over the weak dollar and any shorts are being mercilessly squeezed this morning as we rally $10 overnight to a spread of 815.1-815.6. Whether this is sustainable is difficult to say but with demand from investors outstripping supply it is not a wise man who would bet against it. The Financial Spreads clients were heavy buyers a couple of days ago on the break back above $797 and are now sitting very comfortably.
Gold Spread Betting Comment, 22 Nov 07
Gold has bounced up again from the $797 / $793 support / resistance levels after seeming to take a look here through much of yesterday. Aside from the equity markets the traders in other financials, commodities and FX, seemed less enthused with getting into (or out of) positions and this led to quite a boring afternoon and evening session. Today we are back above $800 again with the Gold spread at $802.6-$803.1 the longs will be hoping that the recent price action will have built a support underneath the market.
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Gold Spread Betting Comment, 21 Nov 07
Gold broke above the $797 resistance level in late session trade last night as the dollar weakened having failed twice in the normal session trading. There appears to be little follow through just yet this morning other than a bit of a short squeeze in very early action and we are now at $802.1-$802.6, still five bucks above yesterday's close but also five bucks below the early morning high. Clients are still slightly long, the break out last night seems to have kept buyers keen to buy more today. Traders will watch to see whether the break back into the 800's is just a short term move but the momentum seems to be back with the gold bugs especially as the USD / JPY cross weakens.
Gold Spread Betting Comment, 20 Nov 07
Almost unbelievably, Gold had a quiet day yesterday trading in a 'mere' $16 range. We bounced off the $775 level and closed just below the $780 support which should have been quite a negative indicator. But the weakness in the dollar overnight has given the yellow metal a bit of a boost and we are now up 6 bucks at $786.0-786.5 and frankly looking quite solid.
Gold Spread Betting Comment, 19 Nov 07
Gold has stabilised in the $780's and dealers must now decide whether this was just a long awaited correction in the rally to $1000 or if there is more to come. Punters have (for once) not been buying into the latest weakness and while they do remain slightly long the net exposure on our books is the lowest it has been for many months. It is difficult to see a trigger for movement from here. However the support at $783 is seen as a potential buy/sell opportunity with $797 on the upside is resistance. The current spread is $787.5-$788.0.
Gold Spread Betting Comment, 16 Nov 07
The currency markets have been experiencing seriously sharp moves, mainly in the favour of the dollar. Many clients saw Monday as an opportunity to buy back the precious metal after it dipped below the $800 mark. However, after a midweek rally, the stronger dollar saw to gold tumbling back below the $800 level. A top is fully in place now and with previous support indicated at around $770 if we get down to that level again then there some support might stop the selling.
Gold Spread Betting Comment, 15 Nov 07
Gold has rallied strongly from the sub $800 prices and is now sitting comfortably at $812.5-813.0. We are in something of a no-mans land here. In the last week or so the market hasn’t stopped here. It’s just been a point where the markets have been moving somewhere else (up or down). There is some resistance at $814 per barrel and interest from Financial Spreads clients around the $805 level. However, for once, the market appears rather subdued.
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Gold Spread Betting Comment, 14 Nov 07
Gold has bounced back for the second time in two days from the sub 800 level and bulls will be taking some comfort from the resilience of the support at 794 and 797. Trading ranges on Tuesday and this morning have shown some signs of perhaps tightening up a bit to allow for a little consolidation before the next move. As regular readers know, I ‘might’ personally think that Gold is one of the more useless products in the world. However at the moment the general momentum is still very much to the upside and would remain so even if we fell another 120 bucks! Current support at the previously mentioned 794 and 797 levels seems to be holding but below here we have major trendline support at around 785. To the upside there is little to mention other than minor resistance at 808 and then up at 823 and 829 before the highs come into play at 844. The hourly charts are showing the possibility of a head and shoulders formation which may have some bulls a bit worried but other than this the buyers are still in the driving seat.
Gold Spread Betting Comment, 13 Nov 07
Gold had it worst day since 13 Jun 2006 when it dropped over $40. Oddly enough that day pretty much saw the best buying opportunity for the past few years. Capital Spreads clients are trying to buy into the fall but were hurt on an almost continuous basis yesterday. As my comment suggested yesterday the early buyers were trampled when the big traders came in and sought out to batter the easy longs. We may well see some volatile activity as spooked traders make quick buy/sell decisions. At the moment the gold spread betting market is sitting at $805.0-805.5 up a buck or so from our closing level yesterday. However at one point yesterday it did drop 10 dollars lower in very late US action. There appears to be good support between $793 and $797 which will bolster the bulls. On the other hand the speed of the reversal will probably make buyers nervous if we go much higher.
Gold Spread Betting Comment, 12 Nov 07
The Gold market opened $14 lower this morning at 818.0-818.5. Punters will be hoping that the spike of the last two and a half months is not a repeat of early 2006 move which swiftly resulted in a $170 fall down to $550. A similar drop would have us down to 670 or there abouts. That would not actually break the long term positive trend line (such has been the speed of the rally) so those who go on about the long term direction of the gold market may be warned that the potential for seemingly massive falls whilst still remaining long term positive is very much alive. In reality the market does need a bit of a pull back if only to get rid of some of the short term speculative longs who are trying to get on the move. After the initial drop we are seeing strong buying from punters who see this as the fall out that they need to get long. This is likely to be the same across Europe with smaller traders getting in on any drop so our clients should be wary of the possibility of a renewed bull hunt later on this morning as the bigger traders come in and try to force us lower once more.
'Gold Broker' by DB, updated 23-Nov-07
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Gold Spread Bets April 2008, updated 11-Apr-08
Gold market news: Gold is surprisingly a little lower at $924 and remains content to hold above the $900 mark. Support seems to be building up again after its sharp decline from $1,000 and the market is taking in its stride that the IMF plans to...read article.
Gold March Spread Trading, updated 28-Mar-08
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Gold March Spread Betting, updated 14-Mar-08
Gold market information: On the commodity front Gold, yet again...did nothing. An early attempt to break higher had as much luck as the previous days attempts to break to the down side. We seem to be magnetically attracted to the $970 level where we...read article.
Gold February Spread Trading, updated 29-Feb-08
Gold market information: The commodities markets have paused for breathe this morning (as the dollar regains some composure) but the pressure is still there and it remains a brave trader who bets on any significant fall back in prices. Gold had a few attempts at falling below $952 yesterday, all of which failed, so short term punters may be...read article.
Real-time Gold Prices and Charts, updated 15-Feb-08
Gold pricing information: Gold bounced once again from the $900 level which is making the support here ever tougher to break down. Support is now solid between $885-$895 and $900. On the other hand every attempt $930 as been brutally...read article.
UK Gold Spread Trading, updated 01-Feb-08
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Spread Bet on Gold - Commodities Spread Trading, updated 07-Aug-07
The commodities sector has been rising recently on the back of strong metals markets. High demand and queries over supply have lifted the prices of base metals. Tin surged to an all-time high of $15,700 a tonne. Supply queries in Indonesia have been helping...read article.
UK Gold Trading, updated 11-Feb-08
Gold almost hit a 28-year high earlier today. The Gold spread betting markets are currently being traded at Gold (October) at $737.8-738.6 and Gold (December) at $744.5-745.3. A weak dollar has also been pushing up oil prices and gold prices as the bullion hits $740 an ounce....read article.
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