Thursday, April 13, 2006

Gold (XAU) short term technical update

GFMS latest observation :Continued Growth in Investment Forecast to Take the Gold

GFMS - A continued surge in gold investment demand has recently pushed the gold price through a series of fresh multi-year highs.In its Gold Survey 2006 ,GFMS forecast that this expansion in investor interest is likely to continue over the next couple of years,driving the price comfortably over the $600 mark before the end of 2006,with the potential for a new all time high in the longer term horizon

Here is a quick summery of gold short positions.

Gold and Silver mining stocks

commodities charts

Here is an intraday 8 hours chart of gold spot with partial Elliot wave count:

 intraday 8 hours chart of gold spot

Gold spot afternoon fix chart 12- 1979 – 4 - 1981

Gold spot afternoon fix chart 1980

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