Gold, up or down?? North Korea and the US. Drop to 1200????
Many out there have been saying a fall in gold to 1200 is just a matter of time....some would even say by the end of today we will have broken 1200.
1200 is a good $23 away from current trading price of gold. I know it dos not count that much but think the growing problem ( yet again) between north korea will mitigate any drop we might see on the back of employment data and strong US dollar. The worlds coming out of the US are ( as I would take it) extremely Hawkish . US ambassador Nikki Haley said the US will use its "considerable military forces" on North Korea "if we must"! . When words like that are used, I don't think it can be ignored. If tensions increase even more so in the week coming, we may see the Asian( china) market come in strong as the move into safe haven founds.As this all plays out on Chinas door step.Again mitigating any drop we may see. Yes, the worlds are not from Trump himself....but they are still very strong worlds. On the flip side, the US and North Korea have been puffing and blowing the chests out since before I was even born .
My position is still to hold to 1215 as entry .
I think gold will be doing much the same as yesterday. Trading between 1222 & 1228.30. I don't not see a brake of the 1229.30 line, less employment data is much worse then expected.
1200 is a good $23 away from current trading price of gold. I know it dos not count that much but think the growing problem ( yet again) between north korea will mitigate any drop we might see on the back of employment data and strong US dollar. The worlds coming out of the US are ( as I would take it) extremely Hawkish . US ambassador Nikki Haley said the US will use its "considerable military forces" on North Korea "if we must"! . When words like that are used, I don't think it can be ignored. If tensions increase even more so in the week coming, we may see the Asian( china) market come in strong as the move into safe haven founds.As this all plays out on Chinas door step.Again mitigating any drop we may see. Yes, the worlds are not from Trump himself....but they are still very strong worlds. On the flip side, the US and North Korea have been puffing and blowing the chests out since before I was even born .
My position is still to hold to 1215 as entry .
I think gold will be doing much the same as yesterday. Trading between 1222 & 1228.30. I don't not see a brake of the 1229.30 line, less employment data is much worse then expected.