Monday, June 4, 2012

1/6/12 Last updated price of GOLD

GOLD


Well, remember the last time when gold was speculated to move higher, even up to RM 200 / gram, but it didn't end up that way as we all thought it would. 


Finally, GOLD has made a drastic spike last Friday (1.6.12), after a 3 months period of being down since early March 2012; 1629.77 being the highest of the day, where it opened at 1560.07, lowest of 1544.40 and it finally closed at 1622.78 around 50 days MA. This indicates a coming uptrend of gold, and we shall see if it will continues its upward momentum, whether to touching or even breaking the 100 days MA at 1664 level? 


The difference of price within a day, from opening to closing = +62.71. 


Is now the TIME to buy GOLD? Do you think that gold has left its low behind and begun its rally already? Is this just the beginning, and perhaps do you think it might even move to a higher ground level, of God knows; 2000 level making its first historical high for the year 2012? (Hahaha - i hope so)


What do you think? Your call, whether to BUY or NOT TO BUY..


Let's continue to monitor the movement of gold.  




GOLD FUTURES
The daily chart of gold futures. 

Look at the closing, it closed above the MA of 50 days. MACD is up, however its hovering at the weaker region, where it was slightly oversold around the mid month of May. And it looks like its slowly inching up, with some of the little buyers help - can be seen from the histogram; from the chart itself. 

Open - 1562.05, High - 1631.25, Low - 1546.35, Close - 1625.65, Change = +63.60

We shall monitor and see, if it manages to break past and stay above the next resistance level with more volume in the coming days, in my opinion - it probably is a sign that gold is starting on its bullish mode already. 

Support is around 1575 level.

Happy trading... 

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