Tuesday, June 15, 2010

Gold 2010 trend

Here is the 2010 chart for the price of Gold provided by Kitco.

You can see that the overall trend is still on the upside, even though we are in the summer months which is typically a seasonal low for Gold.  This year may be a bit different as far as the 'summer slump' for Gold due to the uncertainty of the financial stability of just about every country worldwide.

Pullbacks under 1200 may present buying opportunities for traders with a sell near 1250.

A yearly chart for Gold:

You can see on a yearly chart that the trend is up and that Gold continues to break into new highs. The high of 2009 on 12/3/09 of $1227 has been breached on 5/12/10 at $1249 and hit a record high on 6/8/10 at $1254.

Going forward, I would expect the same swings up and down through the summer months, then a possible breakout in late August. (Seasonal's)

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