Yesterday was a predictably quiet day of trading, an "inside day" forming a doji on the daily chart. Gold is currently trading around the 200-DMA at 1661, finding resistance at the down trend line and the moving average.
If the market can clear this area, the next resistance area is at 1685, with the 20-DMA at 1689 above that.
We expect another quiet day of trading as 2012 draws to a close - barring any catastrophe over the next couple of trading sessions, gold will score a 12th consecutive annual gain, though the gain in 2012 will only be in the region of 6%.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.