frxpreneur
Long

Be patience, GOLD still in consolidation

FX:XAUUSD   Gold/U.S. Dollar
147 2 2
Wait for fifth wave to finish then look for buy setup
itSkushSharma
2 months ago
All depends on if Feds raises Rates or not on Sept 21. If feds raise interest rates, Dollar will have value short term, Gold will do a pullback because of market sell off in the mining sector. But raising rates will hurt corporate earnings; thus we will see substantial market sell off. This would create a domino effect, hurting the chances of Hillary becoming a president. If feds don't raise rates then we have at least 2 month of Gold bull run, since the next fed meet is in December. I am confident that the Feds won't raise rates before election. Right now the chances of rate hikes is at 11% and December is now 44%. Next week we might see some side ways action possibly lower around 1307-1300. But after Yellen Speech of no hike, I expect a surge upwards in Gold price, and gains in mining sectors.
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frxpreneur itSkushSharma
2 months ago
Agree, thanks
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