Thursday, February 09, 2006

Gold spot one hour chart

Gold and silver Recovery is almost as sharp as the correction. The violent down move was clearly non sustainable and counter move quickly followed. If you trade this market using margin use it very wisely if any. As the bull market continue it is very logical to expect similar moves and even more volatile market. Gold outperformed both the XAU index and the HUI index today, in my opinion it is not a sign of weakness but a possibility that investors preferences are changing and the metals are set to outperform the stocks , time will tell…

Click on the chart below to enlarge:

gold spot chart

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1 comment:

robert21 said...

This juncture in the gold market seems to me a little difficult to weigh. The inputs are not vague, but there seems to be an increase in the contradictory qualities in the various indicators. And numerous exceptions are being suggested, by apparently experienced persons. To me it seems pog (price of gold) could easily rise from here. But it seems just as likely that it could continue to correct. I guess by this time tomorrow we'll know. ~robert21



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