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MOST POPULAR ARTICLES
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Video: Rockwell Global’s Chief Economist Cardillo Says Ingredients Are Being Set For Another Run In Gold
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Adrian Ash: What’s Gold Really Worth? Spot Price Is The Price Of Gold, Just As Always
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D’Agostino: Gold Physical Sales Still Up 50%; Gold ETFs Shake Out Leveraged Speculators
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Gold ETF ‘GLD’ Sees Its Biggest & First Inflow In 2 Months
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Week In Review: Gold Pullback Toward $1,322 Begins, NatGas Tests First Layer Of Support, Oil Falls, Copper Rises
***Top stories from the last 15 days
- Written by Sumit Roy |
- December 17, 2012
Chart Of The Week: Gold’s Triple Top
- Details
We take a look at the big picture for gold.
GOLD (Daily Chart)
The $1800 level has proven to be formidable resistance for gold, having stopped the yellow metal in its tracks on three separate occasions over the past year. Likewise, the $1550 level has turned out to be a key support level on the downside.
Most analysts are bullish and argue that prices are merely consolidating before they begin to climb again in 2013 on the back of continued ultra-loose central bank monetary policies.
In contrast, bears say that prices are in the process of topping out and will put in an annual decline for the first time in 13 years next year. They point to price weakness following the Fed’s QE3 and QE4 announcements as evidence that the rally is running out of steam.
- Week In Review: Gold & Silver In Precarious Positions As April Lows Near; NatGas Rallies On Export Approval
- Morning Call: Gold Skids As Dollar Climbs, Analysts Warn Of Much Lower Prices; NatGas Rebounds
- Commodity ETF Flows: Heavy Outflows For Gold & Energy Continue, Clean Energy Funds Shine
- Market Wrap: Gold Falls But Recovers From Worst Levels As Dollar Drops, Oil & Gas Trade Mixed After Data
- Morning Call: Steep Gold Sell-off Reaches Day 6 As Soros Cuts Holdings, Inflation Slows Dramatically; Oil Steadies
