Gold Rockets Towards $1175/oz
November 24, 2009 - 2:30 pm by Primefx · Leave a Comment
Gold is consolidating along our 3rd tier uptrend line as the S&P futures bobble around 1100 and the EUR/USD fluctuates between trend lines. The reaction to today’s U.S. GDP and Consumer Confidence releases have been relatively quiet thus far, implying that activity may be winding down in advance to the Thanksgiving holiday. Gold has responded by holding onto yesterday’s impressive gains towards $1170/oz on the heels of more dovish comments from Fed officials.
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