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  • Gold Keeps Shining in October, But For How Much Longer?

    From forexminute.com

    If you just look at the price action of gold (xau/usd) in October, you would say that it is bullish, up 5.6% from 1183 to 1249.70. It has indeed been putting in higher highs and higher lows, and weak US data in inflation, retail sales, and manufacturing softened the USD across the board. Then good jobs data and decent production data failed to give the USD any spark. The dynamics between fundamental data and price action suggests the USD is indeed exhausted and is in a period of consolidation/correction. rom a technical standpoint, we are seeing the conditions in the 4H chart shift from bearish to bullish as price ... (full story)

Many think gold is bullish in the long term, but question remain how much higher it can go in the short term

- Fan
Gold seems to have a bit more bounce then silver. But the fact that silver is under its 2-year consolidation low suggests we should indeed keep a lid on the bullish outlook in gold. - Fan
Serious investors dont care about the paper price. We know the west is out of gold, this manipulation cant last. Current prices are seen as buying opportunity until the system breaks.
Meanwhile in US Federal Reserve...

Yellen: "Do not try to find the GOLD. That's impossible. Instead, only try to realize the thuth."
Neo: "What truth?"
Yellen: "There is no GOLD".
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Quoting ForexMinute
Many think gold is bullish in the long term, but question remain how much higher it can go in the short term

- Fan
1290 is looking pretty good at this point and no hassles getting there ----> more suspect is 1319. Overall one can only follow it in the wake of price so linear projections too far out would of cause not be the thing to do at this point.

The Crow (-_-)

BTW: I am trading to 1296 and have been since the volatility based close out routine I use registered 1182.81 as a market clearing price (pivot) in range at exactly 1205.91 . So can dare the market at this point.
Gold can never fall
99% of all paper currencies ever issued traded eventually to "0" (the remaining 1% are currently in circulation prior to joining their forebears....)

1 ounce of Gold in the time of Caesar would buy a Roman General a complete uniform, today it would pay for all uniform requirement of British General...

Makes you wonder why anyone would save in anything other than Gold (or Silver) ?

It was famously once said "He who owns the Gold , controls the World", well. since the West have sold any we did have and the East have bought all they could it brings one to question who will control the World in the future ?

Gold and Silver are also nicely suppressed and undervalued at the moment .. Golden Rule , Buy Low , good as Gold..
gold will go to 700 usd and will remain low 4 decades
FTMO $10k Verification #2 (PASSED) All Time Return: 5.2%
Quoting Phil_GMT
gold will go to 700 usd and will remain low 4 decades
Sure paper gold can go there. Hell it can go lower lol. Now Physical is whole different animal.
Quoting Pipaddiction
Meanwhile in US Federal Reserve...

Yellen: "Do not try to find the GOLD. That's impossible. Instead, only try to realize the thuth."
Neo: "What truth?"
Yellen: "There is no GOLD".
Good One.
Striving to Develop & Implement Innovative Ideas
My long trades in gold gave me profits earlier this year.
Again I am long in gold. Somehow I never seem to able to short this.
Leaders don't do different things, but they do the same things differently.
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  • Posted: Oct 17, 2014 7:55am
  • Submitted by:
     ForexMinute
    Category: Technical Analysis
    Comments: 11  /  Views: 3,582