currently, gold is building a new bottom in the $ 1175-1200 price range. I'm assuming that we will not see any further consolidation, demand in this area is just too strong, and there is another noticeable shift in capital from the stpck sector to the gold sector. I have bought at $ 1180 for the long term and will buy more in the next few days once the bottom is confirmed. RSI is strong oversold, It's been years since he looked like this, MACD also very bullish. No sell target cause i use gold as a value investment for the next crisis which is not to far away from us.
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Goldprice is forming the bottom at 1200 $, looks currently very stable. I will buy more gold If we hold this line the whole next week.
I like this statement,"next crisis which is not to far away from us". Feb10-Sep11, it doubled from 1000 to 2000. Maybe Sep18 - Feb 19, it will go from 1200 to 2400.
DK_Investment
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@hirobo, keep 1999/2000 and 2008/2009 always in mind. We had 10 years of bull market and everybody was happy, the current conditions are not the same but almost. Best example is Warren Buffet, he had never so much cash like currently, big indicator for an overvalued market. In ref to gold price are the conditions a bit different than 2009 cause now we have also the digital gold (BTC) and a lot of money will go into this market before enxt crisis. I think gold will go from 1200 $ 1950 like in the last all time high
hirobo
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@DannyKadiric, Pray hard to hit our TP. I always ask myself, why i always miss the BULL market.