Forex | Forex | Spot Gold Trading Analysis (28/08/2009 10:37:05)

Spot Gold Trading Analysis

Yesterday we saw gold prices break out of their recent consolidation pattern as a result of a weaker dollar, equity market strength and a surge in crude oil prices.   From a technical perspective the gold trading session ended the day on neat little up bar with a deepish lower wick.  The body of the candle broke through both the 9 and 14 day moving averages and the wick perched on the 40 day.  In addition the high of the day managed to pierce the $950 per ounce price handle


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