The priced of gold bounced from the 680's $ support area.
Cyclical support and resistance areas : 680$, 745$, 772$, 845$, 930$, 988$, 1032$.
Cyclical support and resistance areas : 680$, 745$, 772$, 845$, 930$, 988$, 1032$.
Gold spot ten years weekly chart anotated with support resistance and trend lines
Gold and Silver Charts
September bottoms failed to hold for both gold and silver. The price of Gold made a new bottom at around 681$ for spot gold. The price of spot silver traded as low as 8.47$.
Gold support and resistance zones: 541$, 559$, 607$, 638$, 681$ <> 744$, 772$, 845$, 930$, 988$,1032$
Gold support and resistance zones: 541$, 559$, 607$, 638$, 681$ <> 744$, 772$, 845$, 930$, 988$,1032$
Silver support and resistance zones: 5.20$, 6.30$, 7.23$, 8.46$<> 11.03$, 12.02$, 12.59$, 13.07$,
13.73$, 16.48$, 19.44$, 21.34$.
Gold chart update
Between March and September[2008] the price of gold declined almost 300$ (1032$ - 736$), So far thats the biggest decline both in nominal and percentage terms – since the global gold bull market had begun. At the same time the price of Silver declined more then 50% (21.34$ - 10.24$).
However, as both gold and silver reached some kind of cyclical bottom a sharp rally then followed:
gold 179$(736$ - 915$) and silver 3.51$(10.24$ - 13.76$).
Currently gold is trading around 877$ and silver 13.20$.
Despite or given the recent extreme volatile price action it is likely that an important cyclical bottom is in for the price of gold and silver.
Gold support and resistance : ~736$, ~831$ <> ~905$, ~988$, ~1032$.
However, as both gold and silver reached some kind of cyclical bottom a sharp rally then followed:
gold 179$(736$ - 915$) and silver 3.51$(10.24$ - 13.76$).
Currently gold is trading around 877$ and silver 13.20$.
Despite or given the recent extreme volatile price action it is likely that an important cyclical bottom is in for the price of gold and silver.
Gold support and resistance : ~736$, ~831$ <> ~905$, ~988$, ~1032$.
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