Gold’s Shine Hard to Capture

Gold has remained a difficult and fast market for traders. Fireworks continue in the short-term. Speculators should not look for huge profits, but use take calculated profit strategies instead.

Gold Producing Fireworks in the Short Term

Gold has produced more fireworks in recent days. While support has held near the 1265.00 U.S Dollars an ounce level, upward reversals made by the precious metal has also been met with harsh resistance.

As of this morning, Gold is trading near 1278.00 U.S Dollars an ounce.

Taking Advantage of Swift Conditions

Gold’s mid-term range looks less dramatic than its short-term comparison, but it still has been a battle for traders to take advantage of its swift conditions.

Resistance appears strong for Gold around 1284.00 U.S Dollars, but its known range certainly makes this juncture enticing.

Traders Should not be Greedy

To take advantage of Gold, traders may consider placing carefully chosen take profit strategies when positioning themselves in the market. If traders can remain less than greedy they might be able to find opportunities.

Gold may remain a speculative buy if global equity markets stay cautious.

In the short term, we believe Gold may be positive. Mid-term and Long-term we are unbiased.

Yaron Mazor is a senior analyst at SuperTraderTV.

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