The mindless cruelty of toxic ignorance

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Gold and Silver prices are hanging around the same levels from quite a bit of time. At the time of writing this report gold is trading at $1290 per ounce while the white metal is hovering around $15 but we believe things could turn around in a drastic manner and if you don't enter soon it's very probable that you won't be able to take profit from the upcoming slide which we are about witness in the precious metal sector. The indexes of Asian and europian stock were weaker overnight while the U.S equity market has shown a strong opening. The news a mega-merger between oil companies Chevron and Anadarko have contributed towards traders and investors which helped them to raise their risk appetite and proved to be negative for the P. Ms .We have finally witnessed positive economic data came from China. Today's China export and import report got released, Exports were up 14.2%, year-on-year, while imports were down 7.6% in the same period. Most analysts were expecting a negative earnings report for the first quarter of this year however today's report released by JP Morgan has shocked most of the analyst which beat market expectation with a positive report.

We are waiting for silver to climb up to 15.50 so we can renter the trade with a stop loss of - and take profit of - however, it's still a good time to enter this trade but our risk and reward measurement won't meet our trading rules, anyways more on this latter in our next post

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