Gold: Volatility still clearly very high [Video]
Gold has been seeing some wild movements in recent days as a sharp three day rally added over 10% back on to the price (having previously fallen almost -15% during the $1702 to $1450 sell-off). However volatility is still clearly very high and this does not necessarily mean that gold will be traveling entirely in one direction. Read more…
Gold is back at medium-term high again
The gold futures contract gained 5.95% on Tuesday, as it extended its Monday's rally following Sunday's Fed unlimited Quantitative Easing announcement. The yellow metal has retraced all of the recent sell-off, as it got back very close to its March 9 medium-term high of $1,704.30 yesterday. Today, gold is retracing some of the advance. Read more...
XAU/USD consolidates gains, trades above $1600/oz
The metal is consolidating the strong advanced made in the last three days as the market holds above the main SMAs on the four-hour chart. As bulls regained control of the market XAU/USD is likely looking to extend gains on a break above the 1628 level en route towards the 1660 resistance and 1700 figure while support is expected to hold near 1605, 1590 and 1560 levels. Read more...
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