{"id":9357,"date":"2010-05-12T08:22:40","date_gmt":"2010-05-12T12:22:40","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9357"},"modified":"2010-05-12T08:22:40","modified_gmt":"2010-05-12T12:22:40","slug":"spot-gold-prices-rise-above-record-high","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/12\/spot-gold-prices-rise-above-record-high\/","title":{"rendered":"Spot Gold Prices Rise Above Record High"},"content":{"rendered":"<p><strong>By Dan Eduard<\/strong> &#8211; Spot gold has soared higher over the past three weeks and is  currently trading at an all time high. Investor concerns over the  European economy have traders piling into the commodity, fueling rapid  gains.<\/p>\n<p>Spot gold prices are trading at a record  high of $1235.05 after ending yesterday\u2019s trading at $1227.83 This is a  breach of the previous all time high of $1224.70 that was set in  December of 2009. The price of spot gold has risen 25% this year.  Significant gains have been marked since the price of gold breached the  resistance level of $1169.<\/p>\n<p>As the euro plunges versus the dollar due to European sovereign debt  concerns, traders have looked for safe haven assets. Chief among them  has been spot gold. Much of the buying over the past few days has been  linked to European buyers.<\/p>\n<p>The previous rally in spot gold prices occurred as investors were  concerned as to the staying power of the U.S. dollar. As such, it  appears that the shoe is on the other foot as the greenback has been  strengthening both in part to the European fiscal crisis but also do to  the recent string of positive U.S. economic data. The euro has fallen  from a yearly high of 1.4500 to 1.2520.<\/p>\n<p>Below the spot gold daily chart shows the major and minor trend lines  along with the significant resistance level of $1169.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/05\/Gold-Daily.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/05\/Gold-Daily.JPG\" alt=\"\" width=\"595\" height=\"571\" \/><\/a><\/p>\n<p><span style=\"text-decoration: underline;\"><strong><em>Forex Market   Analysis<\/em> provided by\u00a0<a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">Forex                                    Yard.<\/a><\/strong><\/span><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                                    may not be suitable for all  investors.       There    is  a              possibility      that      you   could       sustain a  loss   of  all   of    your          investment and            therefore  you        should   not    invest    money  that   you            cannot afford to         lose. You     should    be      aware of     all       the    risks      associated  with     Foreign       Exchange        trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Dan Eduard &#8211; Spot gold has soared higher over the past three weeks and is currently trading at an all time high. Investor concerns over the European economy have traders piling into the commodity, fueling rapid gains. Spot gold prices are trading at a record high of $1235.05 after ending yesterday\u2019s trading at $1227.83 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/05\/12\/spot-gold-prices-rise-above-record-high\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Spot Gold Prices Rise Above Record High&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-9357","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9357","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=9357"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9357\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=9357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=9357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=9357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}