Rockfeller
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Gold fell for a second day, heading for the first back-to-back drop in two weeks, as investors assessed the prospect of reduced U.S. stimulus and a rally to a two-month high damped demand.
Asian Trading Worsened; the Outlook for the World's Growth Countries Weakens
Asian Trading Worsened; the Outlook for the World's Growth Countries Weakens
Rockfeller
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Gold
This big picture is this. Gold reached those high levels b/c nobody was certain there would be a tomorrow if there was who would and would not be apart of it. Yes there will be inflation and yes rates will have to rise. 2 years ago that would have sent Gold to 2000. The market has moved on. For now all will be a party to it to we dont need to rush into GOLD. You can be sure when GREECE talks about going back to the Drachma Gold will rally once more. until then Gold will likely be one of the most range bound instruments to trade. supported by underlying value and demand for physical and capped by fears long passed while other markets start to normalize as CB's disengage from the market. I like zerohedge but i also like traderscheatsheet blog it cuts out the noise. - good luck
This big picture is this. Gold reached those high levels b/c nobody was certain there would be a tomorrow if there was who would and would not be apart of it. Yes there will be inflation and yes rates will have to rise. 2 years ago that would have sent Gold to 2000. The market has moved on. For now all will be a party to it to we dont need to rush into GOLD. You can be sure when GREECE talks about going back to the Drachma Gold will rally once more. until then Gold will likely be one of the most range bound instruments to trade. supported by underlying value and demand for physical and capped by fears long passed while other markets start to normalize as CB's disengage from the market. I like zerohedge but i also like traderscheatsheet blog it cuts out the noise. - good luck
Rockfeller
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1380-1384 zone held nicely yesterday.
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Rockfeller
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Rockfeller
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1423 held nicely yesterday but today we managed to break through this level. Next Resistance level is 1440. Expecting a retracement today.
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Rockfeller
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yellowfloyd
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Yeah I totally agree with that, I think Gold will be range bound for a while yet. Gold will always have a place as a ‘safe haven’ when there is volatility in the markets and traders are looking to park their money somewhere while the dust settles. I still think we will see Gold at $2000 but not anytime soon, especially with equity markets, dare I say it, beginning to normalise. The thing is thought, we are now living in a more aware world (post 2008) and traders, I think, will be more cautious when economies become turbulent or wars begin etc and people will still find comfort in Gold.
Rockfeller
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Rockfeller
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Rockfeller
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Nice bounce much higher than 1320
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Rockfeller
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Rockfeller
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Rockfeller
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Rockfeller
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Rockfeller
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1345-1352 is a resistance zone. Bias is bullish
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M
malaguti
Always funny how things are interpreted differently. You have drawn a downward sloping trend channel, and your interpretation is that of a bullish one
Not an accusation, just an observation
Atilla
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Yep agreed but I see a downward channel and the price bumbping between the two.
imo longer term setup is for another big fall but short term bullish. :whistling
