Capital Gold Group Report: Gold's New All-Time High $1,266.50 Supported by Very Bullish Technical Posture
21 June 2010, 10:23 a.m.
By Jim Wyckoff, Kitco.com
Comex gold futures at mid-session Monday have backed down from the session high of $1,266.50 an ounce, which did set a fresh all-time record high. Some mild profit-taking pressure and price consolidation are featured in gold, as the U.S. dollar index did rebound from its session low. August Comex gold last traded down $1.30 an ounce at $1,257.00. The gold market remains well supported by a very bullish technical posture and by ongoing safe-haven buying interest due to the still very uncertain European Union sovereign debt situation.
By Jim Wyckoff, Kitco.com
Comex gold futures at mid-session Monday have backed down from the session high of $1,266.50 an ounce, which did set a fresh all-time record high. Some mild profit-taking pressure and price consolidation are featured in gold, as the U.S. dollar index did rebound from its session low. August Comex gold last traded down $1.30 an ounce at $1,257.00. The gold market remains well supported by a very bullish technical posture and by ongoing safe-haven buying interest due to the still very uncertain European Union sovereign debt situation.
Capital Gold Group, gold group, gold, gold prices, gold news, gold coins, gold bullion, gold IRA, IRA gold
