Articles
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Fundamental and Technical Analysis for Gold: The Shiny Metal Seems to Find Direction!!!
BY icn.com
The directionless gold in the recent period seems to have found some clues that should push it lower to continue its weak start of this year. Seen split from any factors surrounding the sentiment, good seems to track the fall in the euro and opposite to the dollar since last week.While gold has boomed to its all-time high of $1920.92 an ounce in Sep. 2011 on the negative effect of the European debt crisis, the ease in debt woes dampened haven appetite from investors on bullions, but it started to track the euro once again since last week after concerning comments from ECB President Mario Draghi and political uncertainty in Italy and Spain.
On the other hand, the yellow metal is currently moving in a classical opposite direction to the dollar which climbed to one-month high of 80.40 to take some shine off bullion, pushing gold to one-month low.
But looking at gold prices from a technical perspective could give us a clearer indication about its movements and expected upcoming key stations.
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