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$1,391.7 gold futures

Hi Skol, imo looks like a great time to buy. I note there was...

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Ophir

11,173 Posts.

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21/08/14

09:14

Post #: 13849103
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Originally posted by Skol ↑

Gold is looking very weak, USD up and hints of an interest rate rise which will definitely cap any gains.
Technically gold's on the ropes and is likely to test $1200.
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UBS analysts said in a note today: “July, August and September are typically gold's strongest performing months. But gold dropped 2.74% in July, and while it's currently up 1.05% in August, its grasp on those price gains looks very tentative arring a move to $1200, physical demand from China is likely to remain quite subdued in the months ahead. This means that gold is lacking physical support from its biggest physical market, implying that the seasonality trade for September - gold's best performing month historically - is unlikely to follow its long-term trend.”

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Hi Skol, imo looks like a great time to buy. I note there was solid buying in Gold & silver shares overseas today, for the third day running as gold eases under 1300. HUI XAU GOX TSX JSE all higher. Looks as if the big and smart boys are buying. I'm joining in as we know by now the gold shares lead the metal, usually.
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0 Great analysis

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