Fall in gold last night probably due to long liquidation, locking in profits at the end of the quarter from funds.
Oil rise is offsetting the stronger US economy and therefore reduced chance of a US rate cut anytime soon, leaving a status quo of sorts, therefore i think the conflict in iran is critical (and unpredicatable) for the price of gold short term.
Still bullish on gold however, and as a trader i won't be stopped out unless LHG it closes below 3.20.
Master, i'll bet 5 chupas that lhg closes above 3.30 before it closes below 3.20... you on?
LHG Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
HotCopper & The Market Online will be live From the Floor at the Mining News Select Conference and we want to bring the voice of our online audience to the show with us.
