« S&P 500 and Sector P/E Ratio Charts | Main | Bespoke Fox Business Appearance: 12/19/11 »
Tuesday
Dec202011

Crunch Time For Gold

Since plunging below its 200-day moving average last week, gold has been trying to rally back and make up some of its lost ground.  Today, the commodity rallied by about 1.3% and back over $1,600 per ounce.  While gold-bugs were happy to see the rebound, we would note that today's 1.3% rally was considerably lower than the gain we saw in equities and many of the other widely followed commodities.  Also, gold closed within $1 of its 200-day moving average, and all too often it seems as though when we see rebounds that stall out just short of a major moving average, the stock or commodity quickly resumes its downward bias.

Like what you see? Subscribe to Bespoke Premium today, and for a limited time receive a free copy of Collapse! - The Commemorative Game of the Financial Crisis.

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>