Gold’s Trend Grabbing Attention of Traders
The precious metal is near 1314.00 U.S Dollars an ounce and is becoming speculative. Gold is challenging September highs and will see increased trading volume next week.
Post-Christmas Surge in Gold Shines On
Gold has managed to grab the attention of traders the past week. The commodity caused losing positions for many traders in October and November because of volatility.
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However, Gold has put in a serious post-Christmas surge and finds itself near 1314.00 U.S Dollars an ounce.
Convincing Rise in Value since Early December
The commodity has put in a convincing rise of value since early December and experienced little in the way of downward action.
In the last few weeks, Gold has managed to climb from the 1265.00 U.S Dollar range and not look back.
Gold’s Challenging Question for Speculators
Light holiday trading conditions remain prevalent, and full volume will not be seen until early next week, but the results in Gold have produced solid gains for traders riding its trend.
The question speculators are now asking, is if Gold can challenge its September highs? The precious metal did touch 1320.00 U.S Dollars an ounce yesterday but ran into to some headwinds. However, traders may continue to look for gains.
In the short term, we believe Gold may be positive. In the mid-term and long-term, we are unbiased.
Yaron Mazor is a senior analyst at SuperTraderTV.
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