Gold stocks rise as Aussie Dollar falls

Spot Gold is under selling pressure, with the Trend Index declining to zero, and is likely to test support at $1260/ounce. Breach of support would warn of another decline, with a target of $1200. Respect of the rising trendline, with breakout above $1300 is less likely but would be a strong bull signal.

Spot Gold

The All Ords Gold Index ($XGD) indicates buying pressure, with a higher trough and Twiggs Money Flow crossing above zero, in response to the weakening Aussie Dollar. Breakout above 5000 would signal a new primary advance.

All Ords Gold Index ($XGD)

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s