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It took 9 long years for Gold to break out its previous high at 1915 and thus far, it is still going on a strong bullish trend. It is now moving nicely in a rising channel and until that channel is broken down, the buyers (late entrants especially) will start to flock in.
Those who had bought it at 1500-1600 can take some partial profits, adjust your trailing stop loss and monitor your position.
Gold has a negative corelations with US Dollar, ie. when dollar falls as it is now, Gold will continue to go up.
In the course of averaging up, please take note not to increase your position size unnecessarily , taking on additional risks. Anything can happen in the Market and by being greedy or fear of missing out, the bigger position size if failed will result in a hefty loss since it is bought at a much higher price.
So say you have 1 contract at 1500, you can average the same as it moves up accordingly. It is also important to take note of your asset allocation such that precious metals which includes Gold shares, mining stocks, ETFs, Silver, platinum,etc are not taking on more than 10-20% of your entire portfolio. This is of course a guide and you can deviate by having more concentration of gold or commodities if you know what you are doing, are comfortable with the risks involved and can stomach the volatility as well.
It took 9 long years for Gold to break out its previous high at 1915 and thus far, it is still going on a strong bullish trend. It is now moving nicely in a rising channel and until that channel is broken down, the buyers (late entrants especially) will start to flock in.
Those who had bought it at 1500-1600 can take some partial profits, adjust your trailing stop loss and monitor your position.
Gold has a negative corelations with US Dollar, ie. when dollar falls as it is now, Gold will continue to go up.
In the course of averaging up, please take note not to increase your position size unnecessarily , taking on additional risks. Anything can happen in the Market and by being greedy or fear of missing out, the bigger position size if failed will result in a hefty loss since it is bought at a much higher price.
So say you have 1 contract at 1500, you can average the same as it moves up accordingly. It is also important to take note of your asset allocation such that precious metals which includes Gold shares, mining stocks, ETFs, Silver, platinum,etc are not taking on more than 10-20% of your entire portfolio. This is of course a guide and you can deviate by having more concentration of gold or commodities if you know what you are doing, are comfortable with the risks involved and can stomach the volatility as well.
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