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

Gold Market Update - 6th Nov

6/11/2013

1 Comment

 
Trade Gold Online trader
Gold traded lower in quiet trading yesterday, making a lower high and a lower low and closing at 1313.  This morning, gold has received a small boost from a weaker dollar and is currently trading just below what is becoming important resistance at 1320-1322.

The key to gold's performance for the rest of 2013 remains the dollar and to a lesser extent equities and oil.  A break above 81 for the dollar would see gold down sharply and suggest a return to the lower part of the 1180-1434 range as a minimum.

Equities remain well supported and continue to attract funds in search of yield, diverting investment away from commodities, whilst the tumbling oil price suggests inflation is not a concern.

Support can be found at 1310, 1300-1306, 1291, 1277, 1260, 1250, 1207 and 1180.  A break of 1180 would have serious bearish implications for gold and suggest a decline to 1000-1050 as a minimum.

Resistance can be found at 1320-1322, 1328-1330, 1338-1342, 1352-1355, 1360, 1375, 1400 and 1434.  A break above 1434 would suggest a major rally was unfolding with a target of 1525 as a minimum.

Today's video for subscribers looks at the recent trading in more detail and our strategy for our current short position.

1 Comment
saad link
6/11/2013 09:13:21 am

thanks for trading idea about Gold

Reply



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.