UK Gold Trading Experts
  • Home
  • Trade Like a Pro
  • Gold Blog
  • Subscriber Resources
  • Legal Stuff
    • User Agreement
  • Contact Us

Gold Market Update - 26th Sept

26/9/2013

0 Comments

 
Trade Gold Online Trader
Gold climbed steadily yesterday, hitting a high of 1338 and has continued to exhibit strength this morning, however we note that options expiry for the October contract yesterday is likely to be influencing the price.

We may therefore see some erratic moves in gold over the next few days before the "real" trend emerges, though it should be noted that gold is now trading above its 200-hour moving average for the first time this week.

Resistance around 1340 will prove tricky for gold to overcome, however a break of this level should see the price rise back towards the upper boundary of the down trend channel at 1358 - a break of this area will see a retest of 1375 and potentially 1435.

Support can be found at 1329, 1322, 1316 and 1307.  Below this 1300, 1292 and 1272 come into play with a break of 1272 suggestive of a return to 1180.

Equities remain in a strong bull trend and we expect further gains in stocks for the rest of 2013.  Oil continues to show weakness which is not helping gold, whilst the weak dollar is providing some support for gold on dips.

Today's video for subscribers looks at the recent trading in more detail and some key areas to watch for clues of gold's future direction.

0 Comments



Leave a Reply.

    Old Posts

    August 2021
    July 2021
    June 2021
    May 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    March 2019
    January 2019
    December 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    March 2018
    February 2018
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    July 2016
    March 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013
    July 2013
    June 2013
    May 2013
    April 2013
    March 2013
    February 2013
    January 2013
    December 2012
    November 2012
    October 2012
    September 2012
    August 2012
    July 2012
    June 2012
    May 2012
    April 2012
    March 2012
    February 2012
    January 2012
    December 2011
    November 2011
    October 2011

UK Gold Trading Experts (UKGTE) is a trading name of Drupac Limited, a company registered in England and Wales (company number 09167819) whose registered office is 1 St. Paul's Square, Birmingham, B3 1QU.