All Eyes on Gold This Week..and this Month
All eyes will be closely watching Gold this week in what could be a very good week for the precious metal.
The answer for what could happen this week for the precious metals itself lies in what will likely happen in the general US indices. With the looming tariffs poised to take place on Sunday, alongside several key rejections, and a positive VIX, this will likely set the stage for a sharp leg up next week for Gold - and a sell-off for the Dow/SP/Nas.
With the threat of increasing tariffs, this sets the stage for Asia to "buy" the current dip in Gold.
While Gold finished down on Friday, many Gold stocks finished in the green. All key data points to a fake downside from Thursday/Friday before the next significant leg up to trap all the shorts from this past week.
A massive amount of data is set to be released around the world in this first week of September with the ECB and FOMO quickly approaching. The ECB is expected to cut rates, while the Fed is questionable at this time.
Only time will tell, however, September looks very favourable for Gold...
- zSplit
The answer for what could happen this week for the precious metals itself lies in what will likely happen in the general US indices. With the looming tariffs poised to take place on Sunday, alongside several key rejections, and a positive VIX, this will likely set the stage for a sharp leg up next week for Gold - and a sell-off for the Dow/SP/Nas.
With the threat of increasing tariffs, this sets the stage for Asia to "buy" the current dip in Gold.
While Gold finished down on Friday, many Gold stocks finished in the green. All key data points to a fake downside from Thursday/Friday before the next significant leg up to trap all the shorts from this past week.
A massive amount of data is set to be released around the world in this first week of September with the ECB and FOMO quickly approaching. The ECB is expected to cut rates, while the Fed is questionable at this time.
Only time will tell, however, September looks very favourable for Gold...
- zSplit
Comment:
Report: U.S., China struggling to agree on plan for September trade talks
Report: China launches WTO complaint against USA's recent tariffs
We all know what this means. :-)
Report: China launches WTO complaint against USA's recent tariffs
We all know what this means. :-)
Target end of Tuesday: 1559-1569
Target end of next week: 1585-1600
This likely bull trap in the general market; with the trap on Gold/Silver shorts will be "BIGLY".