GOLD: Stating the obvious

FX:XAUUSD   Gold Spot / U.S. Dollar
168 2 0
No suprise that the price couldn't hold above 1330 even though there was a little break of the resistance.
But it is a tough resistance level , and yet not a solid support level .
You really need to climb high in order to come down at 1330 before going to a second move up, but yet the precious metal is not even trading in a channel.
To see the price raising, you need a lot of macro economic situation and first foremost of it is inflation in order for private and institutional investor to seek for a "safe heaven" like gold             . Gold             would for them hedge the inflation . But with such a low inflation rate in Europe and the USA, I don't even mention Asia, there is no reason to buy gold             because today Gold             is more expensive then tomorrow.
We will have to wait for the increase of the interest rate by FED and ECB before proceeding to an initial reversal. And at that time gold             should be around 1180 or even lower.
GOLD long?
I completely agree! Only when interest rates start to rise and inflation kick in, due to all the money printing by central banks (ECB will start printing soon) and artificial low interest rates, the medium, long- term trend for Gold (and Silver) will reverse, boosting prices to all new hyper bull market.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out