Gold $635 - still trading in range

Major gauges add to US market gains after GDP report confirms slower economy and raises hopes of Fed pause next month. Dollar drops a bit and falling oil also helps.

Gold gains some dollars and is making around $635. Still in the trading range and waiting for a breakover.

Gold trading range $620 - $650

Gold dropped from a recent high of $675 after the war crisis has relief in the middle east. The drop was fast and sharp to $620 in a few days, and started a rebound to $655. Now spot gold price is trading at $631, fluctuated between $620 to $650.

Big drop to $650

Gold drop to $650 after a series of stronger than expected reports helped the USD to bounce back.

Gold drop from day high $675 to $651 now, slipping $24 in about 2 hours. Initial support saw in $650.

Gold break $650 and goes on

Gold continues to surge above $640, and easily broke $650 today, giving a $13 gain and is trading at $654.8 now.

Lets hope Gold can stand firm above $650, and prepare to break $670, $700 and $730.

Gold keep rebounding, test $640 soon

The blog has not been updated for a while. But the last post has marked the short term / mid term bottom of Spot Gold at $542.

After reaching $542 which is a mere 0.618 correction to the years' gain, Gold surged rapidly back above $550, trading at range around $580, then break $600 and keep rising steadily to $638 today.

The length of correction during a Bull run can last for 1-2 years. Lets see how long it takes to finish correction and break $730 again !