Gold price moves opposite with dollar, when you consider gold , you must consider USDOllar index too.
In this topic, I just show some interesting matter regarding to GOLD . that's Fib channel which Tradingview provided.
I draw on the chart, GOLD price respects this channel greatly. It reaches step by step fib channel and use those channels as .
Moreover, gold also respects FIB retracement level too.
Thus, gold traders could use those lines to trade gold .
In my opinion, GOLD will continue to decrease because US stock keep going t o rally causue of good prospect of US economy.
All problems connect to FED. If FED taper QE3 to 35-40 billion. That is a big problem and that is the signal for strong buying GOLD .