Gold (GLD) Ends Sharply Lower as Fresh Near-Term Technical Damage Inflicted

Date: 12/12/2011

Gold Market Commentary - Gold (GLD) Ends Sharply Lower as Fresh Near-Term Technical Damage Inflicted. The GLD sold off hard closing down $4.37 currently trading between $162.06 amd $162.13. Volume was average and buyers came in on the GLD pushing it from the low of $161.14 to the close of $161.99.

There is a a lot of liquid money in GLD and people tend to use these instruments as a way of investing in gold in a relatively liquid method.Comex February gold futures prices ended the U.S. day session sharply lower, hit a fresh six-week low and dropped below important technical support levels Monday, as near-term chart damaged occurred.

The precious metals saw fresh selling pressure coming from a stronger U.S. dollar index and weaker crude oil prices, following an unimpressive market place assessment of the just-completed European Union summit. February gold last traded down $49.40 at $1,667.40 an ounce. Spot gold last traded down $47.50 an ounce at $1,664.25. March Comex silver last traded down $1.113 at $31.14 an ounce.

Link to this page http://www.stockmarketfunding.com, notify us and we will consider your web site to our directory

StockMarketFunding.com, LLC is not a registered broker-dealer, but rather works in coordination with fully licensed broker-dealers, SIPC-insured clearing firms, and private trading firms to provide licensed and non-licensed clients with access to career trading programs and direct access trading capabilities. Our firm and our network affiliates strongly recommend that all clients fully read and acknowledge all SEC risk disclosure statements available on our site and our affiliate broker-dealer websites prior to engaging in any live trading activity, and acquire a solid understanding of the risks inherent in all types of stock and option trading.