@bevter
I am afraid you'll be disappointed.
Doesn't look like MOY is ready to go higher.
OR it won't be allowed to go higher by the Masters of the Market.
As I said a lot of patience will be required.
I never trust this gold spike based on Geo Political news.....those are just used by the large traders to fool people. FED Governor Jerome Powell will be speaking tonight.....most probably will give confirmation of June Rate Hike. As usual the zombie traders will be selling gold and buying the US dollar which is absolute insane. The reality is exactly the opposite. They should be buying gold and selling dollar on a hint of rate hike. But they have a resolute belief system which has been conditioned by the market that rate hikes are bullish for a currency. Yet those people don't think Argentinian,Brazilian, Turkish, Russians or Indian sky high rates are bullish for their currency. They sell those currencies when their Central bank raise rates.
They buy the US Dollar when the Market or FED gives rate hike hints. If Rate hikes were bullish then after 3 years and 7 Rate hikes the US dollar should be higher than when the rate hikes began in 2015.
US Dollar- Dec 2015 was at 98-99 ....today trading at 93-94
USD Gold- Dec 2015 was at 1060-1080...today trading at 1300.
In layman terms
Rate Hikes= Price Increase all across the board = Inflation = Currency buying less = Currency losing value = Higher prices for goods & services denominated in that currency = Diminishing value of that currency.
If an idiot like me can understand.....I don't know why the experts/talking heads on the Financial Channels keep on harping.....Feds raising rates...US dollar is going up....Gold bearish.
Maybe they intentionally mislead people.
Usually Gold makes seasonal low in May-June. So there is a possibility we might have seen the lows or Gold will make another low before or just after the June Rate Hike. That gives manipulator a lot of time to play their game.
So having said all that BS.....these are good times to be accumulating this dog. From 20-15c.
