let's start the update with gold prices-At the time of writing this report gold prices are down and trading at around $1237 while white metal is trading at $14.56-we witnessed some pressure on precious metal sector as greenback has gained it's strength and moved to it's two year high-we already informed you that the ongoing trade war is damaging china economy much more than the U.S and november reading on retail sales,industrial production has already proved it-please note- retail sales are down to the lowest level in 15 years-This is not good and even negative-for the P.Ms-we were also keeping our eye on the Euro zone today as PMI data was scheduled to release today which came in at 51.3 in december-This reading is lower than expected which drag the euro currency down and supported the greenback-There is not much to report today but we are preparing our 10 page analysis which includes the reason of being so bearish for gold and silver market, however, it includes other important facts also which will make substantial rally in gold -0.37% and silver -0.35% prices in coming months and how one should be prepared for that-
overall it seems that our long-term position in gold -0.37% 0.17% 0.69% and silver -0.35% 0.49% 0.57% will be highly profitable in coming weeks-we are very bearish for the precious metal sector and we think the downfall has just been started. stay intact in our long-term positions as we do believe profits are likely to much higher soon)
Please, note-We do believe the major turning point in gold -0.37% and silver -0.35% is about to come in the coming months but before that happens it's crucial to understand that the precious metals sector hasn't made their bottom yet, there is enough room for prices to go lower before we witness a substantial rally in gold -0.37% and silver -0.35% prices.
overall it seems that our long-term position in gold -0.37% 0.17% 0.69% and silver -0.35% 0.49% 0.57% will be highly profitable in coming weeks-we are very bearish for the precious metal sector and we think the downfall has just been started. stay intact in our long-term positions as we do believe profits are likely to much higher soon)
Please, note-We do believe the major turning point in gold -0.37% and silver -0.35% is about to come in the coming months but before that happens it's crucial to understand that the precious metals sector hasn't made their bottom yet, there is enough room for prices to go lower before we witness a substantial rally in gold -0.37% and silver -0.35% prices.