nothing certain in market....otherwise everyone is rich making money. Today volume is low and no buyers and neews out of Japan is not good and market is staying on the side line waiting Italian bond action later this weeek....if it goes well market will go up again All these factors are unpredictable so it is not certain.
Chinese central banks are buying gold big time so 1 billion chinese and i cant see gold drop too much. USA central bank have the biggest gold holding and Chinese will need to diversify their foreign holding away from US so Gold price will find support.
If there was a bigger problems in the world Gold may fall at the begining but after that when all funds and investors finish with their margins Gold should find support.
USA cant affford to raise their interest rates any time and dollars will at the end got weakened more and then inflation when it comes will support gold even more.
TA NCM is oversold but emotion calls the shot not the chart but at some point technical traders will make a move.
Cheers,
NCM Price at posting:
$30.75 Sentiment: Buy Disclosure: Held
