The price of gold has fallen significantly since it crossed the $1,670.00 barrier. The US dollar index (DXY) has become extremely volatile due to rumors that the Bank of Japan (BOJ) intervened in the FX markets to strengthen the Japanese yen, which has put some fair selling pressure on the precious metal. The Federal Reserve policymakers are expected to raise...
Looks pretty tasty to launch a second rocket attempt. A double bottom and a cup and handle pattern with 50% retracement after the 1170 peak made on 24th August. Entry: 1124 S/L: 1102 T/P: 1220 Weekly perspective: This uptrend will be pretty fast and short lived.
As WSJ have put it Gold is supposed to be a haven amid hard times and soft money. So why, even as Greece has defaulted, the euro has sunk against the dollar, and the Chinese stock market has stumbled, has gold been sitting there like a pet rock? www.wsj.com The answer is here. The devaluation of yuan will spark even more currency devaluation ahead (including...