Upon research, here is the fundemental reasoning for my gold entries.
I have placed an order at 1853.5 I think gold has not given up with with the push down as of yet. And I feel asif theres further to go.
As far as the Israel and Palistine war is going:
USA seem to already putting there nose in, sending warships over etc. This is only fustrating Hamas. Theres no doubt Hamas will not win this, Israel has the backup of many countries including an ally of NATO although not officaly apart. Weve seen the spike of gold from massive reserves being sold off. Golds hovering around the 50-60 area. Whats interesting to me from reading, is that what Saudi have to say. We know Saudi are a very powerful, oil rich country with massive gold reserves too (323 ton they hold). If they get involved we may see alot of market movement. For the good or bad i can not comment.
Watch gold closely, probably better to look at trades before news is announced. But as this is war, and news is news, we cant predict.
Just to put in perspective, Saudi have more gold than Bolivia, Finland, Cambodia, Belarus, UAE and Argentina together. But are still only at 16 in the world for holdings.
If we look at Saudis oil reserves, they are No2 in the world. They’ve got 65.4 years of oil reserves stored,
And produce a whopping 10.85 million barrels per day.
That’s est. 1,725,150,000L per day.
Crazy figures.
Ill update this post with daily and weekly thoughts.
In summary, I feel the war unfortunatley has further to go. This is only the start. Could this pump or dump gold? ... Time will tell
Ethan
I have placed an order at 1853.5 I think gold has not given up with with the push down as of yet. And I feel asif theres further to go.
As far as the Israel and Palistine war is going:
USA seem to already putting there nose in, sending warships over etc. This is only fustrating Hamas. Theres no doubt Hamas will not win this, Israel has the backup of many countries including an ally of NATO although not officaly apart. Weve seen the spike of gold from massive reserves being sold off. Golds hovering around the 50-60 area. Whats interesting to me from reading, is that what Saudi have to say. We know Saudi are a very powerful, oil rich country with massive gold reserves too (323 ton they hold). If they get involved we may see alot of market movement. For the good or bad i can not comment.
Watch gold closely, probably better to look at trades before news is announced. But as this is war, and news is news, we cant predict.
Just to put in perspective, Saudi have more gold than Bolivia, Finland, Cambodia, Belarus, UAE and Argentina together. But are still only at 16 in the world for holdings.
If we look at Saudis oil reserves, they are No2 in the world. They’ve got 65.4 years of oil reserves stored,
And produce a whopping 10.85 million barrels per day.
That’s est. 1,725,150,000L per day.
Crazy figures.
Ill update this post with daily and weekly thoughts.
In summary, I feel the war unfortunatley has further to go. This is only the start. Could this pump or dump gold? ... Time will tell
Ethan
Trade active
Comment:
Clear reversal here, Next targets are 1877 and 1901 for me now. Golds interest is increasing which is causing the price increase.
Order cancelled:
Did not tap me in for a sell
Comment:
Golds took a crazy turn!
Over 700 pip movement on Friday 13th Oct.
Clearly back in the 1900s, next week will be interesting and we’re either looking at some strong pullbacks to low 1900s, or into the high 1900s!
War is still prominent so have to keep this in mind. I look forward to updating with possibly buy opportunities!
Over 700 pip movement on Friday 13th Oct.
Clearly back in the 1900s, next week will be interesting and we’re either looking at some strong pullbacks to low 1900s, or into the high 1900s!
War is still prominent so have to keep this in mind. I look forward to updating with possibly buy opportunities!