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Eldorado Gold Corporation Message Board

  • ac26xp ac26xp Apr 7, 2009 9:18 AM Flag

    EGO April 7

    Local high yesterday for gold spot $880; need to break that to upside to break out of local down-channel (see attached chart).

    EGO and gold-related looking good in pre-market on local gold bounce, but again a lot of it depends on what gold does within it's local channel.

    TOKYO, Tue Apr 7, 2009 2:05am EDT (Reuters) - Gold prices rose on Tuesday in a technical rebound and a round of short-covering after dropping 6 percent over three days. A recent rally in stocks has revived investor risk appetite and driven money out of safe-haven gold, while a drop below key technical levels around $880 and $870 per ounce pushed bullion down to a 10-week low of $864.30 on Monday.

    LONDON, Tue Apr 7, 2009 7:41am EDT (Reuters) - The dollar and yen rose on Tuesday as equity markets took a sharp turn lower, fuelled by concerns about the banking sector that wiped out recent optimism over the global economy. The yen rebounded broadly and sharply, as short-term market players unwound yen crosses, traders said. The dollar was broadly higher except against the yen. European shares were down one percent after opening modestly higher on Tuesday, as financials weakened along with U.S. stock futures, also down more than one percent.

    Happy trading,

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