2010-09-18

It is a matter of time before gold moves higher















While gold is being met with strong resistance on approach of $1,285, we believe it is a matter of time before gold moves higher. There is current resistance from the gold physical market to gold’s quick move from $1,250 to $1,280. The resistance from the physical market (with scrap also coming to the market), may see gold consolidating in the $1,270—$1,280 range for a while.

Ultimately we see gold heading towards our target of $1,300 within the coming weeks. We believe, should gold breach $1,300, the metal could rally higher towards $1,320 on the back of technical buying.

Gold support is at $1,270 and $1,265. Resistance is at $1,285 and $1,295.

0 comments:

Related Posts Plugin for WordPress, Blogger...

KLSE Info Zone

About This Blog

Malaysia Gold Investment

I found Gold Investment in Malaysia is a vary good tools to make profit when the market is down. I also found that Gold Price go up and down more slower compare to share market so to make money in long term, Gold is the right tools. This blog is all about Malaysia Gold Info and the way to make profi

Blog Malaysia

BlogMalaysia.com

  © Free Blogger Templates 'Greenery' by Ourblogtemplates.com 2008

Back to TOP