Last week have been very profitable for traders who where long about Gold . We've started the week with a big selling pressure after a long week-end where people were doubting about gold overvalue. This strong sell has broken all stop loss tickets. Now that this storm pasted we are able to see more clearly what is going on'on Gold .
We are actually bouncing on the long uptrend support with a bottoming which give us a strong buy pressure prediction.
In add, after some rumors about gold electronic price manipulation, a new instance in London is trying to get a "fix" for gold and silver price. The new London Gold Market Fixing Limited organisation is changing price calculation to get the current market rate of contracts for physical delivery of the metal. AFP said "Some analysts believe however that the market price of gold , which is driven by investment and jewelry demand, could climb as a result of an overhaul".