Gold price Forecast

[ashikaga]

Will the price go up this week? Not sure. I guess next week monday it'll plunge. But by the end this week still be on the same level of 890 dol.

[EvElyN]

Gold’s overnight bear run failed at $889/oz before it pushed higher.
Now trading at $894/oz...

[Luckyfish]

Gold rose to a three-week high of more than $910 an ounce after Hu Xiaolian, head of the secretive State Administration of Foreign Exchange, which manages the country’s $1,954 billion in foreign exchange reserves, revealed China had 1,054 tonnes of gold, up from 600 tonnes in 2003.

[Lolly]

Thanks for the insightful information. What do you predict for the rest of the week?

[EvElyN]

cheers!!

[adpablo]

Will the price go up this week? Not sure. I guess next week monday it'll plunge. But by the end this week still be on the same level of 890 dol.

You were right, today May 1 gold closed at the 887 USD level...now let's see if the plunge on monday will take place...probably

[ashikaga]

What will happen on next week? Mon. Tue. - affected by Stress test news? I think Gold rise in the begining of the week. But will be lower in the end. Any way I'm long for it these days. I'll take short position on tuesday 5th of May and probably continue to stay short till the end of the week. Lets see, 8th of May gold will be lower then in the start of the tue 5th of May.
Anyway after plunge 6th of May I'll buy gold expacting the rise on 7th of May. But anyway who doesn't change the position which taken in the begining of the week must be short till Friday the 8th from sell in high monday.

[EvElyN]

The pair is declining 0.99%, putting a break on the opening gains and trading at 901.33. The metal is declining as the Dollar climbs against the Euro…

[EvElyN]

The market is flat right now.

[brewer-fx]

Gold recouped losses from the last two sessions as sentiment made a swift turn to the risk-seeking mode, pushing down the dollar against majors.
The correlation trade in gold remained intact as the precious metal had been moving inversely with the dollar and in tandem with oil, which advanced $3 or 5% to $66bbl. Gold tested $937oz intraday but only fell back down and consolidated around the $935oz level due to a lacking of sustainable drivers behind the move.