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Learn What Caused Gold Bullion To Trade Higher Today Directly At Gold-Bullion.org

February 25, 2010Gold bullion traded higher today, roaring back after three days of losses this week. At 4:45 PM EST, gold prices stood at $1,106.40, up $8.20 on a strong day of trading. By contrast, the US Dollar Index fell 0.046 to 80.73, reflecting the strength of trading in gold, silver and platinum as metals rebounded to recover most of the week’s decline.

With the bad news in the jobs and housing sectors, the decline by the dollar could have been much worse, but the currency was buoyed by losses by the euro. Action Economics said foreign-exchange traders in Europe were covering short positions, betting that the euro would fall more before markets there closed. After trading as low as 1.349, the euro made a slight improvement, climbing to 1.354

The prospects for continued gains look very promising. As mentioned by the Money Changer, “RSI and MACD are positive and even with today's drop remain in an uptrend in force since the 5 February low.” With today’s prices closing above the $1,100 per ounce mark, analysts are predicting that the rally will continue its climb.

In spite of a tumultuous week, the prospects for continued price gains remain very good. Gold bullion investors in China and India are returning from holidays, the Fed policy for dealing with US economic problems has been announced and gold’s fundamentals still strongly favor price increases. With a new month for options’ contracts just beginning, investors can begin to watch for indications of price increases and look to re-enter the gold market. 

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer - Gold-Bullion.org

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