risk off....gold up, page-129

Thread summary: Risk off ... gold down!


I am not sure that too much can be read into the price action at the moment.

Gold is range bound between 1620-1680, and I can't see what will change that immediately. I have some bets placed for a break on the upside, but I think I will have to be patient.

Equities are drifting off. I think that the US market is taking a break. The talk about Spain and weak US employment data will be quickly forgotten when the correction has run it's course. (Collectively, equity traders can have very short attention spans!)

When equities go, gold will follow.

Cheers