Gold price Forecast

[84amy]

Sideways trading appeared to be the pattern for price action in gold today. The precious metal edged down $2oz or 0.2% to $962oz after testing $971oz. The dollar strengthened across the board on a pullback in risk appetite. The ECB kept rates intact at 1% as expected and said the global economy was “less gloomy” and secured footing “sooner than expected.” The ECB is in wait-and-see mode with no near-term need to exit, but the central bank is confident in its ability to change policy according to economic conditions. The BoE kept rates unchanged at 0.5%, which was in line with expectations. The MPC surprised the market by extending its QE by £50bn to £175bn. The central bank addressed the larger-than-expected drop in GDP and painted negative color on the global economy, arguing improved market conditions and investor confidence were “fragile” and “very low,” respectively. On the data front, initial jobless claims declined more than expected, falling to 550k vs consensus 580k. The better-than-expected claims figures were indicative of improved economic conditions and confirmation of a more concrete recovery theme. The job data may provide insights into tomorrow’s closely-watched non-farm payrolls, which market participants lifted expectations for in light of positive development today.
Support: 955.89 Current: 963.15 Resistance: 971.02
Forex Alert-17:21(Est) ACM Precious Metals Analysis: Gold Trades Sideways After Rate Decisions and Jobless Claims - 8/6/2009

[Pampilus]

The price for gold cannot fall a lot.

[84amy]

The pair is still trading higher, at 957.47 dollars per ounce…
Where do you see the dollar at the end of the year Pampilus?

[Pampilus]

The pair is still trading higher, at 957.47 dollars per ounce…
Where do you see the dollar at the end of the year Pampilus?

Where I see?

[84amy]

You think gold could get up to 1500 in 2010?...
What do you predict?

[Pampilus]

You think gold could get up to 1500 in 2010?...
What do you predict?

It's not excuded if to refer on the history of change of the gold prices.

[84amy]

I think so too….
I found this site that says it will go as high as 987.
Gold Price Forecast

I think it will pass it easily

[Pampilus]

I think so too….
I found this site that says it will go as high as 987.
Gold Price Forecast

I think it will pass it easily

Thaks for your link.

[davidfx]

Ever since stocks around the globe have come to a collapse I've been reorganizing my investments. I recently had a talk with a friend about gold and did some research. BullionVault.com, etc.

What suggestions, tips or recommendations would you make?

[ziggy]

I would recommend choosing the best broker. There are many out there but do independent research & ask people who have traded with several which is best. This could save you a lot of money in the future.