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Gold Price Futures (GC) Technical Analysis – Trend Up, but Buyers Looking for Value
Gold futures are trading lower early Monday after a volatile trade last week. Like crude oil traders, gold traders are also licking their wounds after a wicked reversal on January 8. With losses in both directions and option premiums skewed due to the excessive volatility, it may take a few days for the impact of the heightened volatility to dissipate. At 03:41, February Comex gold is trading $1557.50, down $2.60 or -0.17%. The price action since Christmas week has been impressive. However, despite several huge volume days, open interest hardly moved. What’s most interesting about the entire rally in gold is that ... (full story)