Home » Gold futures trading » Gold Futures Market 26 Aug 2010

Gold Futures Market 26 Aug 2010

September gold futures continued their recent strong performance closing yesterday’s gold trading session once again as a wide spread up bar, which briefly touched the $1240 per ounce price point, before closing marginally lower. ┬áThis price action followed followed Tuesday’s strong trading signal where the deep lower wick of the candle gave us a powerful clue to yesterday’s price action which was duly delivered on the daily gold futures chart. ┬áThe outlook for gold remains firmly bullish with both the 9 and 14 day moving averages providing excellent support to the move higher as we continue to climb our short term objective of re-testing the $1265 per ounce high, before breaking out into new high ground for the precious metal.

Investor demand for gold jumps 36%