Share
Interesting morning & maybe a nag won't be the only winner on the 1st Tuesday of November.
USD related instruments under pressure in early trade.
DOW given back circa 100pts.
Euro & JPY gaining, both look very overdone for mine.
And Nikkei getting absolutely slaughtered down over 400 pts!
Gold is just below the key area of $1180.
Asian demand has been siting on the sidelines for the last week or two waiting for gold to settle.
Its done that & its just a matter before the pent up buying comes back in.
A break above $1180 should see short covering in gold taking it back toward at least $1200.
I get the impression the market is loaded with USDs at this point from a spec perspective....
Long gold, it may be called bottom picking & yes it can get messy, or it can be hugely rewarding.
Only time will tell...
