MTBigsky
Long

All is not lost in Gold

FX:XAUUSD   Gold Spot / U.S. Dollar
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Gold is oversold on the 4hr RSI chart. Gold Bears are out and about in full force still and are playing for some sort of imminent breakdown in the metal. There is still alot of interesting things happening in the gold market. Prominent Gold bulls are proclaiming a shortage in the physical metal and massive demand by eastern forces.
Big things are afoot in the gold market and there could be a Rally that catches many off guard and out of position, fooling everyone by rallying in a deflationary environment (In USD)
There may be deflation in America, but there is rampant inflation in many other emerging markets and currencies. The demand for gold in foreign markets may be enough to boost gold prices worldwide.

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