Gold holding steady around $1770 at the start of the week
After a nice pop higher in the gold price to $1796 on Friday the bulls couldn’t get it to ‘stick’ and gold ended up closing out the week around $1780. Gold’s best weekly close since November last year.
At the start of this week however gold has drifted lower and seems to be holding quite steady around the $1770 level.
Gold $ (hourly):
(click for sharper image)
On the longer term chart we can see that the $1800 is still tantalizingly close for the bulls, but is being defended hard by the bears.
Gold $:
(click for sharper image)
€ gold has dipped a little as well this morning, but is still holding well above the previous all time high set last year around €1340 level.
€ gold:
(click for sharper image)
Finally £ gold has ‘caught up’ with $ gold in it’s most recent move and is holding nicely above £1100.
Since the May lows $ gold has moved up around 15% to today’s levels. £ gold has now also moved up some 15% off those lows as well.
Gold £:
(click for sharper image)
Related posts:
- Gold price holding steady around $1770 as the war drums start to beat loudly… everywhere
- Silver price holding steady above $30 – now up 10% on the year
- Gold price holding steady around the $1660 level
- Gold price holding steady as market jitters and Italian woes linger on
- Gold price holding steady around $1730 (again) ahead of FOMC decision
Link to this article: : http://www.goldmadesimplenews.com/gold/gold-holding-steady-around-1770-at-the-start-of-the-week-8279/
Posted by Declan Cosgrove on Oct 8 2012. Filed under Gold News.
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