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Saturday, June 25, 2011

gold prices prediction june 27 2011

gold prices prediction june 27 2011 : Gold and silver prices were pummeled Friday, with gold briefly breaking below $1,500, as the metals came under pressure from a stronger dollar and broad market selloff.

Gold for August delivery shed $19.70 to close at $1,500.90 an ounce at the Comex division of the New York Mercantile Exchange. The gold price has traded as high as $1,526.50 and as low as $1,500.30 while the spot gold price was down $19.30, according to Kitco's gold index.

The gold markets have fallen again, shedding up to $20 an ounce on Friday after losing $30 an ounce the day before. The market looks very vulnerable at this point, although it is sitting at the psychological round number of $1,500 an ounce. The trend is still up, but it should be noted that the most recent trend line has been broken as we fall. We are looking for supportive candle at support areas such as $1,500 and $1,475 in order to get involved again. Source meta4forexbroker.com...

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