Nov
11
Written by:
Steve Patterson
11/11/2009 3:03 PM
Gold: Don’t Fight the Trend
An old saying in trading technical charts is ‘don’t fight the trend’. And this has been the case with Gold over the past year, every pause in the rally of the price of gold has been a good opportunity to buy. Of course this could reverse if the US dollar was to gain support with a monetary change by the Federal Reserve. But that doesn’t not appear to be on the minds of the Federal Reserve.
Gold rallied to a new high today as Federal Reserve officials spoke about keeping the current historic low interest rates in place until there is a more forceful economic recovery in America. Gold is moving in the reverse direction as the US Dollar which has fallen over the past 15 months and looks to continue falling until their is a policy change.
Inflation is also a concern for traders who are predicting a rise in consumer costs as the dollar continues to fall. Gold is then used as a hedge against the inflation and the fall in the dollar. Gold reached a new high of $1119.10 an ounce this morning on the NYME and closed slightly lower by mid-afternoon. Investors can play the price of gold rather conservatively by buying the Exchange Traded Fund, Spiders Gold Shares (GLD), and following practical trading guidelines.
© 2009 FastSwings.com
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17 comment(s) so far...
Re: Gold: Don’t Fight the Trend
At present the rates of Gold are increasing day by day.So it is better to invest your money on the Gold.I see buying Gold as an investment with high ROI.
Jewelry is a good way to save your money for future.
By construction Updates on
11/12/2009 6:17 AM
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Re: Gold: Don’t Fight the Trend
Yes. it's true that trading against the trend is quite difficult but trading with the trend that too considering the trends analytically will be beneficial.
The gold prices are increasing and they will continue increasing in the future also so start making investment in gold to make your future little safe.
By Forex on
11/12/2009 7:53 AM
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Re: Gold: Don’t Fight the Trend
Thanks for the info. Some people buy gold to gain some money in the future. Since its value sometimes rises. It would be a good idea to own, it's like an investment.
By free guitar lessons on
11/12/2009 1:09 PM
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Re: Gold: Don’t Fight the Trend
With the highest prices of gold...ever...is it a good idea to move some of my money from my 401k contribution into gold?
By 401k contribution on
11/12/2009 10:35 PM
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Re: Gold: Don’t Fight the Trend
Looks like gold sold off a little bit today but probably need a bigger opening to make any kind of aggressive trade.
By Cleanse Body Acai on
11/12/2009 11:17 PM
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Re: Gold: Don’t Fight the Trend
oh my dear! the gold prices is going to be crazy in recent time in Vietnam. in one day it gains nearly $20...and then today it lost nearly $15. just b/c many people went to buy yesterday, and then they try to sell all today get lose.
By Managed Futures on
11/12/2009 11:22 PM
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Re: Gold: Don’t Fight the Trend
I'm actually confused to think that the value of gold has something to do with inflation. I believe that it's not only the gold that would extinct it's value, but other resources as well making the crises worst than ever. I can say moreover that mining gold doesn't literally refer to gold alone but to other resources which we can exchange to money.
By Breast Enlargement Philadelphia on
11/16/2009 4:14 PM
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Re: Gold: Don’t Fight the Trend
Thanks for the info. The gold markets were surprised today. It's really best time to invest your money for the future.
By Laguna Realtor on
11/17/2009 4:36 AM
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Re: Gold: Don’t Fight the Trend
so do you think that gold will keep going up, can we see gold at $1,500 an ounce? I can't believe gold was at $300 just 8 years ago!
By san diego boutique hotels on
11/18/2009 9:15 AM
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Re: Gold: Don’t Fight the Trend
Yup I am with you.Gold is considered to be a safe haven in turbulent and uncertain times. The global meltdown has seen money shifting to gold. This has started pushing up the price. The financial situation globally is expected to stabilise in 18 to 24 months. Till such time the pressure on gold will be on.
By debit card payment on
11/18/2009 9:44 AM
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Re: Gold: Don’t Fight the Trend
I'm shocked at the value of gold today. We were broken into in May and put an insurance claim in for some family jewellry that was stolen. They finally came back to us this week with the settlement(yes, it took a while but that's another story) and it is far more than we claimed for 6 months ago. Time to invest definitely.
By fish oil softgels on
11/24/2009 6:08 AM
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Re: Gold: Don’t Fight the Trend
gold prices have certainly gone sky high..i think it would be very wise to invest in gold as the rates will certainly rise in the near future for sure
By How to write best resume cover letter on
11/25/2009 1:17 AM
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Re: Gold: Don’t Fight the Trend
Analyst Report coming on VHGI Gold (OTCBB VHGI)
By John G on
12/11/2009 8:23 AM
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Re: Gold: Don’t Fight the Trend
The trend broke fast. I would wait a while to purchase any more. If you see a break out from a range of movement, then get back in.
By Steve on
12/11/2009 10:17 AM
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Re: Gold: Don’t Fight the Trend
I believe that it's not only the gold that would extinct it's value, but other resources as well making the crises worst than ever. I can say moreover that mining gold doesn't literally refer to gold alone but to other resources which we can exchange to money. thanks...
By beach wedding dresses on
12/14/2009 6:03 AM
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Re: Gold: Don’t Fight the Trend
There has been a major break down in the trend and it was time to get out last week. I haven't looked at other commodities but they tend to run together.
By Steve on
12/14/2009 9:44 AM
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Re: Gold: Don’t Fight the Trend
Very nice information Steve, this article realy help me. Thanks it really looks promising! Baying gold is a good investment, Your blog is one of the most wonderful places to visit.
By kolorowanki dla dzieci on
12/15/2009 8:48 PM
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