Australia's largest stock trading and investment forum Australia's #1 stock forum

GOLD

Click for more information

0.51%

$1,391.7 gold futures

Is Gold about to bounce?, page-2

First 2 Last

Share
Profile

Follow
goodbrad

2,294 Posts.

04/11/14

14:13

Post #: 14233731
Share

Originally posted by Daytr ↑

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...

Expand

Smells like a bottom getting close, not fully pungent yet.
4 Upvote

0 Great analysis

Reply

There are more pages in this discussion • 583 more messages in this thread...

First 2 Last

Add GOLD (COMEX) to my watchlist