Lebowski
Long

Nice time to buy gold

FX:XAUUSD   Gold Spot / U.S. Dollar
138 0 1
Dude's thoughts are that soon the 50 day EMA will be moving above the 200 day EMA . Dude will buy as long as price does not go lower than $1300. In the last months we've seen some multi-year lows. We could move one more time lower, but the risk for this is lower as the summer comes to an end. Fundamentals for gold             are still positive. More, forever, QE announced not just by the USA, but also China, Japan, Eurozone. All major central banks are in tune with each other increasing money supply together. We have not even seen much negative effect for this yet, but just a sniff a few weeks ago about slowing down money supply increases threat to collapse the economy. So, central banks have no choice but to print. Dude thinks you should stop thinking of your money in Dollars or Euro             and instead start thinking of your wealth in ounces of gold             . Dude's 2013 target for gold             is $1600 and target for gold             in 2014 is $2200.
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