franciskim
Long

GOLD - The Bigger Picture

FX:XAUUSD   Gold Spot / U.S. Dollar
344 3 5
First off, $1200 an ounce is what it costs the miners to produce gold             . Miners have recently been doing great - this obviously adds support to the gold             price. The closer gold             gets to $1200, the less miners will be interested - the supply will drop and the price goes up. Fundamentally, gold             can't really stay below $1200 in the year 2014 and beyond.

Many people are banking on September being usually the best month for gold             - and for all the right reasons:


Geo-political crisis may ease - and gold             will need to show that it can support itself without Ukraine and Russia providing support.

In summary, I do not see much of a downside here and we could see a breakout to the 1400-1500 range very soon. Long gold! Shorting gold             is an 'old' idea that will fade away very soon.
Francis Kim Digital Development: https://franciskim.co | Mobile, Desktop & Web App Development | eCommerce Development (Magento, Shopify, WooCommerce)
Would you go long now or wait for gold to breach certain long term resistance?
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I'm already long now & I'm betting it won't break the support at 1275 for a while.
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gegau franciskim
So do I. Thanks, SHIGGA.
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