Gold Technical Analysis October 17, 2011
Gold markets continued to run in a very tight pattern on Friday as traders are weighing the possibility of a European debt crisis solution over the weekend. Oddly enough, there are several higher ranking officials that have stated not to expect one, including the Canadian Finance Minister. With this in mind, there are some traders that are buying gold as protection from the next round of bad news or disappointment that the markets have certainly set themselves up for over the last couple of weeks.
Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.