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The Commodities Corner
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What's Next for Gold
Thu, Jul 2 2009, 15:26 GMT
by Andrei Pehar
Gold is ending the week at a key support level. If 929.39 continues to hold, we could see a rally week which takes us first to 958.60, and if that breaks possibly to re-test January’s high of 1005.98
If the 929.39 level is broken, we could see prices drop to 872-882 before it begins to recover.
Long-term, we remain bullish on gold, with an eventual target at 1129.96 Dollars per ounce. But, before that target can come back into play, price needs to break 1005.98, and find some solid support at that level.
Published on Thu, Jul 2 2009, 15:35 GMT
Archive
- Where Now, Mr. Dow?
Published On Tue, Oct 20 2009, 15:00 GMT - Gold Hits Key Level
Published On Mon, Sep 14 2009, 14:18 GMT - What's Next for Gold
Published On Thu, Jul 2 2009, 15:26 GMT - New Lows for the Dow - Where is the Bottom?
Published On Fri, Mar 6 2009, 10:42 GMT - Crude Oil: A Key Level to Watch
Published On Thu, Nov 20 2008, 01:43 GMT
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