Capital Gold Group Report: Gold Pushes Above $1,200 in After-Hours Trading as U.S. Stock Market Melts Down

By J. Ryman on May 6, 2010 12:59 PM | Permalink

By Jim Wyckoff
06 May 2010, 3:04 p.m.

Gold futures got another boost of buying power after the official close of Comex trading Thursday, pushing to a fresh five-month high of $1,209.20 an ounce, basis June futures. Bulls got another technical boost as gold prices shot past what was psychological resistance at $1,200.00 an ounce. A plunge in the U.S. stock market as traders watched on television rioting in the streets of Atens prompted the heavy buying interest in gold, on a safe-haven move amid the keen uncertainty in the markets at present. Gold prices are now within striking distance of the all-time high of $1,227.50, basis nearby Comex gold futures.

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This page contains a single entry by J. Ryman published on May 6, 2010 12:59 PM.

Capital Gold Group Report: DOW PLUNGES 998 POINTS BEFORE RECOVERING was the previous entry in this blog.

Capital Gold Group Report: Stocks Slide as Market Rout Triggers Trading-Systems Concern is the next entry in this blog.

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Capital Gold Group Report: Gold Pushes Above $1,200 in After-Hours Trading as U.S. Stock Market Melts Down

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