Gold Price Review

Reviews on spot gold prices, gold stocks & futures, related news and Technical analysis.

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Location: Hong Kong
   

Wednesday, June 14, 2006

Gold made $542 and rebounded

In 2 days time Gold fell from $605 to $542, a large $60 drop which indicated a strong and terrible sell-off atmosphere. The situation was like the final drop, which most of the investors get shocked and decide to cut loss.

However, the gold related stocks in HK (2899,3330) refused to drop. Started off with a day low of -8% decline but end up with a +4% increase. This observation is similar in the case when Gold topped at around $730, where the gold stocks refused to rise correspondingly. This time the stock pattern is similar but in the other direction. It may be a hint that Gold is near its bottom.

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