Posts Tagged ‘short-covering’

Comex gold prices are trading moderately lower Wednesday morning as the U.S. dollar index sees more short covering buying following recent selling pressure. December Comex gold last traded down $8.10 at $1 330.50 an ounce. Full story

New York took the gold price down again but down to $1,286 where it bounced off support.  The action after that confirmed our feeling that major buyers are taking offers at and below their limits, cleaning out the stock in the market at those levels.   When short covering and fund buying came in to pick Full story

Like Thursday’s price action… I wouldn’t read much into Friday’s trading action either.  There was extremely thin volume in all metals.  Gold sold off about 1% once the Comex opened… but gained it all back in what I think was a short covering rally that started shortly after 11:00 a.m. Full story

* Gold rises on short covering, holds near record * For the technical outlook on gold, click on * Coming Up: New York May Fed Empire State Survey; 1230 GMT (Updates prices, adds quotes) SINGAPORE, May 17 (Reuters) - Gold firmed towards a record on Full story

By Ole Hansen, Senior Manager for CFD and Listed Products at Saxo Bank The short covering rally in EURUSD ahead of Easter was abruptly halted as uncertainty about Greece's ability to repay its debt saw the dollar regain lost ground. The economic outlook Full story

Wednesday in Singapore, bullion prices spiked on short covering after the euro steadied against the dollar, but the precious metal remains vulnerable to selling pressure after previous failed attempts to touch new highs. Spot gold was at $1,107.10 an Full story