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$1,391.7 gold futures

When Skol buys gold, it'll be overbought. Until then, it's got a...

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gozinsa

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29/04/16

19:24

Post #: 17637608
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Originally posted by choochx01 ↑

Cant see gold being overbought.

Its heen moving in a range of 1220 to 1260 for the past month consolidating its previous move.

The break of 1260 and the USD Index sub 94 sets gold up for an attempt at 1300.

1260 should see solid support and 94 resistance now.

Upwards and onwards.

The central bankers of the world have set gold up.for a huge run.

Why does the US have 300 tonne hidden away and why the chineese massive buyers ?

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When Skol buys gold, it'll be overbought. Until then, it's got a lot of catching up to do based on fundamentals. And inversely, equities have a long way to fall to match fundamentals.
3 Upvote

0 Great analysis

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