THE TIPSTER
GOLD showed signs of a top last Friday when it first broke a four-day uptrend support, but it then shot higher when Ben Bernanke spoke about the economy. However, it failed to take out Thursday’s record high of $1,387 and promptly dropped $15 to $1,370. Spread Co offers a four-point spread on spot gold of $1,373.4-$1,373.8.
Much like sterling-dollar a few years ago, which broke through the $2.000 level and wiped out numerous stops above before turning round, US dollar-Australian dollar has reached parity. It looks likely to edge a little higher before selling pressure turns it round. WorldSpreads offers a one-point spread to ordinary accounts and a zero-point spread to platinum ones.
When IG Index started its grey market on Betfair a week ago the quote was 1,250p-1,275p. But a buoyant equity market, bullish sentiment from institutions and positive sentiment among spread betters has meant that IG Index has revised its grey market price upwards to 1,360p-1,385p.
Traders saw Autonomy plunge earlier this month when they shocked the market with a profit warning. But the stock is looking oversold and could be due for a rebound. Investors are eagerly awaiting third quarter numbers on Thursday and any positive announcement could be the catalyst to pile back in. ETX Capital is quoting 1,376.6p-1,381.4p for the daily rolling contract.