Excerpt from: Spread Betting North American Financial Markets
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| May 22, 2007 | | Spread betting and gold prices | In New York, gold prices are down, along with other metals prices. Spread betting on gold prices should likely short, as the U.S. metals market is showing a downturn in generally, and the market is fairly pessimistic about the future. Spread bets and CFDs on metals prices should consider this information from MarketWatch:
"Gold's intermediate-term indicators do indeed point not only to a
possible breach of supports at $652 or $630, but there is also a
distinct case to be made for revisiting the $605 level at which the
year was begun," Nadler said. "Long-term momentum indicators are also
barely in the positive zone."
Other metals prices were also lower Tuesday. June palladium fell 20
cents at $374.10 an ounce and July silver fell 2.5 cents to $13.105 an
ounce. July copper fell 1.40 cents to $3.3860 a pound, while July
platinum fell $14.70 at $1,305.0 an ounce. | | |
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