Analysis of gold prices today – July 11, 2012

Gold price technical analysis 17 - June, 2013

Gold markets fell during Tuesday’s hearing, where the markets were concerned about the reports from the Italian Prime Minister, which indicated that he does not rule out needing to Italy was forced to seek bailout funds in Europe. This is the first time in Italy, you alluded to it in need of support, despite the fact that the hint of an informal request that this only refers to the worsening situation in Europe.

While it is selling the gold market, it should be noted that the gold trade in the euro currency is the best way because the U.S. dollar will certainly get a bid in this environment. We still see that the market is consolidating between a higher level of 1640 $, and a lower level of 1540 $. Should be considered to markets at the present time, taking into account the border.

We are ready to buy when it reaches the candle near the support level of $ 1540, due to the fact that the market in an upward direction for the most part over the past eleven years. However, if you have the ability to trade these goods in euros or yen, we suggest you to do so in those categories. The increased this market, it should be set off against the euro, because the time being, the center of most things related to the markets.

If the gold market rushed up to the level of $ 1640, will take into account the position of long-term if we can close above the level on the daily schedule. As for the sale, and although it is practicable to do so, we are still not convinced of the negative side of the market. One more explanation for why this is, of course, the fact that the lowest levels began to move to the top Bbeef a little, and certainly higher than the pattern heading upward since eleven years. Taking all this into consideration we prefer to buy gold, but with the current economic situation in Europe we watch a lot of bad surprises from now until the end of the year.