Spread bets and CFDs on gold prices should consider that they are dropping right now. Indeed, the forecast for gold prices shows a steady decline over the next three months, according to Bloomberg:
The forecast was raised from $850, London-based analyst John
Reade wrote in an e-mailed note today. The three-month forecast
was raised to $850 from $800, he wrote. Gold for immediate
delivery dropped $13.59 to $892.86 an ounce as of 10:24 a.m. in
London.
Also, it is worth noting that oil prices are dropping on the commodities market as well. Financial spread betting strategy should consider that gold prices often move in tandem with oil prices.
Forex Trading involves high risks, with the potential for substantial losses and is not suitable for all persons. Past performance is not necessarily indicative of future results. These resources and the information provided herein should not be relied upon as a substitute for extensive independent research. These resources and the information they contain does not take into account any particular individual's investment objectives, financial situation, or needs. Any projections or views of the market provided by the authors may not prove to be accurate. GFT will not be responsible for any losses on investments made by readers as a result of the information contained in this column. GFT does not render investment, legal, accounting, tax or other professional advice. You may want to consider contacting a competent professional prior to making investment decisions. (c) 2010 Global Futures & Forex, Ltd. All rights reserved
GFT GLOBAL MARKETS UK LTD., WORLDWIDE LEADERS IN ONLINE
INTERNATIONAL UK +44(0) 207 170 0770 | UK FREEPHONE 0800 358 0864