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  • Gold and Brexit support fall

    From forex.com

    Safe haven gold has been largely out of favour over the past few days after its recent rally ended abruptly on Thursday of last week, though a weaker US dollar has helped to keep it afloat. Evidently, it has lost out in favour of riskier assets, such as equities and oil, which have stormed back to life, along with the British pound, after a new opinion poll from the UK suggested that the Remain camp’s support increased in the aftermath of the tragic death of a UK MP. Indeed, gold priced in British pound (see figure 2, below) has dropped a good £76 or 8.1 per cent from its high on Thursday, whereas gold in dollar ... (full story)

Even if the vote is to leave, it is likely that vote will be rigged for remain.
"The market can remain irrational longer than you can remain solvent"
Quoting anton.olff
Even if the vote is to leave, it is likely that vote will be rigged for remain.
For sure
Gold has just reached a level of temporary technical resistance from which it'll come down a bit and consolidate at a slightly lower level before going higher. 1,600 by the end of the year at least I would say. Along with Silver, it'll be the big winner this year.
Quoting anton.olff
Even if the vote is to leave, it is likely that vote will be rigged for remain.

I agree with that.

Also the reason I think this is all a game of smoke and mirrors is as follows, if everyone was worried about a UK exit you think people would be buying gold not selling it, but gold is falling. Makes me think that all this scare mongering is simply to butcher traders and keep the public scared and under control.
So, you guys are saying that we should buy gold for now?
No sell all shorting... shorting commodities
If I am not mistaken. If Remain camp wins. GU and EU will be flying high. Putting pressure on USD.

If Brexit wins, then risks will be high, Gold will be up, UJ will be down.
Hammm..... One more. If Remain camp wins, and USD keeps falling. Guess what? China will buy Gold with cheap USD.
As to me stay out of placing any order in your Live or Real Accounts for gold or anything else till the end of June as of UK referendum and as brokers increase Margin and Spread Levels, we must start trading again from 1st July in live or real accounts, and before start confirm your brokers whether they bring down Margin and Spread levels or not. If not wait for Margin and Spread Level to come down. However you can work in Demo Accounts to get experienced.
Few days holidays for live / real accounts will be good, you can earn later again.
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  • Posted: Jun 21, 2016 8:40am
  • Submitted by:
     Newsstand
    Category: Technical Analysis
    Comments: 10  /  Views: 4,522