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Sunday, June 12, 2011

gold price trend analysis june 13 2011

gold price trend analysis june 13 2011 : Gold ended last week on Friday after heavy volatility and strong fluctuations with the uncertainty over the outlook for the global recovery. More slowing signs of growth are seen across the globe and fear of rising inflation is adding more downside pressure on the recovery projections.

Gold will remain affected with the start of the week by the heavy pessimism in the market that is supporting haven low yielding currencies and keeping investors cautious regarding commodities.

Gold might correct some of the heavy losses but remains subject to high volatility on the back of the dollar's reversal of the losses. Fears of rising energy and food prices, uncertainty over growth, and the debt crisis in Europe are all upside support for gold yet the short term volatility is merely normal amid the high uncertainty in the market.

Gold is to continue fluctuating heavily this week with the pessimism in the market, yet the upside support for the metal remain seen especially with now drought fears rising and pushing corn and wheat prices more to the upside which will add more hedge demand on gold and help its overall bullish appeal

Gold Technical Analysis Monday June 13, 2011

The gold market continued its choppy behavior on Friday, trading in the range between $1,525 and $1,550. The market has been massive bullish, and this chart doesn’t appear to change that. Certainly as long as price is above the trend line, we should see buyer comes in sooner or later as they have for the last 10 years.

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