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$1,391.7 gold futures

@goldbear77 I've superimposed a red line (XAUUSD = US Gold) over...

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wombat53

7,702 Posts.

11

28/09/16

15:45

Post #: 19481945
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Originally posted by goldbear77 ↑

I think you are overstating your point being missed wombat53 - several people were posting about the 2011 downtrend being hit at the time. forged was one. v. there was one other who;s id i dont recall. i did.

as i said 2 weeks ago - i think people focusing on usd gold price are lookign at the wrong chart.

usd gold - now thats its priced where it is - direction is really more a symptom of currency crosses.

I would focus on the usdjpy chart - whither that goes USD gold will follow imo.

i do agree though the low risk place to be is in aud goldies if you are takign gold exposure.

i;d find it impossible to buy gold directly on trading market exposures myself at this point - the potential for big vol moves knocking you out would be pretty big vs the return
- which i think is precisely why the market makers call the shots on 24 hour gold moves as long as gold trend doesnt break

i would buy physical though. in fact im just about to.

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@goldbear77
I've superimposed a red line (XAUUSD = US Gold) over the USDJPY WEEKLY Chart to better see the correlation you mention (could also have done it the other way round, of course..in fact I will,, second image, below)

XAUUSD (WEEKLY ), with USDJPY superimposed (in red)

Last edited by wombat53: 28/09/16
4 Upvote

0 Great analysis

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