Wednesday, 7 December 2011

For Commodity Traders - Gold, Silver and Crude Oil


The currency movement during the last month has been a key factor for Gold. Though the day to day price movement has been within a range during the entire month, the comex chart suggests something different.
A break-out on either side will decide the further trend.

US GoldSpot Weekly chart

The same applies for the silver.

US SilverSpot Weekly chart




Crude has showed strong upside momentum. It is quite possible that it may remains sideways with sudden upside spurts and slow downside trades, the overall trend is still strong. As of now, the only major hurdle remains at $115.


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