Gold Market Recap: 29 September 2011
The Gold market really could not decide its direction today as prices waffled around both sides of unchanged throughout the trading session.
One might have expected Gold and other physical commodity markets to have benefited from an improvement in macro economic psychology but despite a mostly positive Global equity market trade, Gold was not overly inspired on the Bull case.
Perhaps some traders are hesitant to completely downgrade the European debt crisis threat until the issues in Italy and Spain are put to rest.
Paul A. Ebeling,
Paul A. Ebeling, Jnr
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.