This is my first ever post and I'm sorry if its in the wrong place.
I have been learning to trade for probably the past 6-8 months and have been motivated to keep learning. What I have been learning and reading about from recent sites and financial people is that gold was going to keep depreciating. Today the opposite has occurred and I'm going to assume the 'financial gurus' are going to come up with some excuses to why they where wrong.
My question is why do these people lead us in the wrong direction, what can they gain from our failure. The market doesn't pay them jack for telling us BS. I am still a firm believer in forex. I haven't really lost that much but stuff like this is irritating. WHY IS GOLD GOING UP?
The market makers use the news to lead traders down the wrong path. YES they do make money off of that. You take a sell position based on stupid news projection and they take a Buy position and suck up all your money. End of story.
No one is right mate, They all were saying GOLD is going to go up towards 3500++, in 2011 when it was @ 1800+.. and Financial Stock Markets collapse predictions (2010,2011,2012... and so on) (check You Tube bro).. Nothing happens... No one knows whats happening... Just go with the flow..... At the moment Stocks are going up, Invest in them (Buy S&P500 in cash if it corrects 3-5% from here) Buy Gold when the trend Changes... Commodities are still in downward cycle... So avoid for few more months (or If you are a full time trader then keep on trading buy-sell (like crazy)) Good luck
I am new to Forex but know some stuff about Gold/Silver, they will go crazy (especially SILVER) when stocks bubble will burst....
I am waiting for Silver to come towards $10 (might be day dreaming) but anything is possible....
(My personal View) Final leg which will be something like drastic Falls in commodities are yet to be seen, Buy When You see Gold/Silver going down crazzyy in weeks/days and no one is interested in buyingg,...
And as some are already stating here the news and so-called 'expert' advise is just a trap for amateurs.
There is one major factor that drives Gold more than anything: Fear. The rest is pretty self-explanatory. Universally, if traders sense instability, they flock to Gold, both Institutional and Retail that is.
The key to profiting on it, is knowing when that instability will drive sentiment to Gold. And THAT I won't reveal.
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