gold advise

Gold made a significant retracement for the past two days, but I too think the bullish trend isn't over yet.

Gold is a good play around significant risk,for now I think its eased off somewhat.

If BoE cut the rate as the market expect them to do, gold will likely gain. Perhaps back to 1340-1350.

We'll see. For now it's testing the support at 1324. If it breaks below that level we could see it reach 1300 again.

Gold is still slowly descending, but I think we should be looking for a good place to open long positions, especially if it reaches 1300.

Bearish on Gold and Silver.

Gold is really struggling to break below 1310. I wouldn't open shorts unless it broke below that level.

Eyes on the Fed to break the range.

stian posted:
Eyes on the Fed to break the range.

If that doesn't break it, I don't know what will.

The FOMC statement yesterday caused a big jump to the upside and Gold broke above 1340. I think next target is 1360.

Gold could rally to the 1358 level and the 1310 level could act as support.

Despite the fact that median price to sale ration on S&P is >2 and GAAP on 2012 levels, negative yield environment push investors to stocks. Stock market is not solid any more. Furthermore, most central banks have huge problem with leverage on their balance sheets. There are few places for rebalancing at the moment and one is definitely gold . From trading perspective S/D, regression analysis and futures reports favors longs. If not long yet, 1265 – 1254 area is a good entry point.

So far I am not seeing a signal for a move to the upside and I wouldn't open longs before it breaks above the resistance at 1355.

Gold reacted quickly to the downside after the upbeat US data.

It’s interesting to observe the shift on Gold/USD correlation and demand for mining stocks. Gold has room to the downside, short term, but has to be treated like a buying opportunity for $1400 area.

While I have little doubt it will reach $1400 eventually, for now it looks like there will be a lengthly sideways consolidation period.

Does anyone know what caused that whipsaw on Friday?

Bad US numbers, followed by a slight recovery, you find similar patterns in other USD currencies and silver.

stian posted:
Bad US numbers, followed by a slight recovery, you find similar patterns in other USD currencies and silver.

Thanks. I need to pay more attention, apparently.