Wednesday, December 21, 2011

Gold still under the 200 dma

Gold is inching its way back to the 200 dma which is currently at 1617.  It may have found support from the peak made in late April, early May 2011.  The MACD Histogram is heading up which may lead to slightly higher prices.

Even with the slight upwards trend, Gold looks like it will consolidate for the remaining 2 weeks of December between ~1575 to ~1650. Gold is currently up about 13.2% for the year.  Silver is down just over 5%.  What other investment is up over 13% for 2011?

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