Did you ever asked yourself "If price is expected to go higher , why is someone going to sell me?"
Market participant who are going to sell their contracts could have this profile :
- Market makers : they are going to provide some contracts to keep the market ongoing - Investors who accumulated GOLD at range [1000-1200] so taking an easy 70-100% profits ! - Institutions who are going to take price to another price level.
My money management tells that I cannot afford to buy GOLD at it's all time high. May be after a deeper correction, to have a good ROI on the long run.
It' feels good to see the GOLD price going higher , but no profits their for me.
Question of the year : can you buy high and sell higher ?