POG has risen on European rate cuts to 1324 and dropped back to ~1306 on US strong data!!!
"Gold support is at $1,305 and $1,294. Resistance is at $1,327 and $1,338."
"Copper is still the best performer in the base metals space, holding above $7,100 despite all the other base metals coming under pressure."
Gold price Change due to Strengthening of USD = -5.30 Gold price Change due to Predominant Sellers = -5.50 Gold Price: Total Change = -10.80
Novemeber is usually a 4-5% up month for gold the experts like William Kaye say
"When Bernanke’s cheap money policy collapses our economy in a few months, maybe less, millions of Americans will go broke (again!)."
So in my opinion USA with 17 trillion debts and patchworks in their Economy can not be producing strong data in any ways.
the mid-term US senate elections in next year will distract people & ne in the media all year to distract. Janet Yellen will come to the rescue & do QE4 in steriods & save the day They may even pump more than 100 billion every month
"at the moment they've been able to keep most of the QE 'in-house', but it will only take some black swan event to release the currency into the market and then all hell will break loose - hyperinflation"
MARKETs?? they may & try pumping the market up until the new year, it is possible then let it free-fall
So all fellow posters markets will not be steady and Gold is to precious to be left on it's own rather is a reference.
All these are my opinion.
NCM Price at posting:
$10.13 Sentiment: LT Buy Disclosure: Held
