4 months ago
4 months ago
Comment: 1334 so far.
All depends on if Feds raises Rates or not on Sept 21. If feds raise interest rates, Dollar will have value short term, Gold will do a pullback because of market sell off in the mining sector. But raising rates will hurt corporate earnings; thus we will see substantial market sell off. This would create a domino effect, hurting the chances of Hillary becoming a president. If feds don't raise rates then we have at least 2 month of Gold bull run, since the next fed meet is in December. I am confident that the Feds won't raise rates before election. Right now the chances of rate hikes is at 11% and December is now 44%. Next week we might see some side ways action possibly lower around 1308-1305. But after Yellen Speech of no hike, I expect a surge upwards in Gold price, and gains in mining sectors. But again safer to listen to Yellen Speech and then take position accordingly. (My) Fundamental analysis and (your) Technical analysis go hand in hand.
All the technical analysis are based on fundamental thing before i publish ideas. And it may not be simple as bullish or bearish of gold. Yellen may say no rate hikes on 9.21 but she also can add one more sentence like "This year still have chance to have interest rate hike when economy is good" which may cause up and down during the 9.21. Whatever, Next Non Farm data is also important. Btw, Donald Trump gets a lot of chance to be the new president although he wants to challenge and change current political and bureaucratism which have been there for years.