Based on the above chart, GLD must retrace its path back to its support line.
Currently, GOLD is holding out well with respect to all the commodities. Remember during the 2008 slowdown, Gold fell too. The full force of the slowdown has not been experienced so far.
I am anticipating large fall in Gold price.
Gold primarily driven by the underlying demand from Customers who see value in it. Whenever the Gold price reaches beyond the common man purchasing power it falls automatically.
What we are experience now is the first leg of recognition.
I suspect something fishy in Gold. A sudden drop from 1735 to1710 in 30min on 24th April seems some mysterious action. People can enlighten me to learn. Thanks!
Arun_Sangwan
⋅
Wrong interpretation completly !
It's poised to rocket upwards.
Arun_Sangwan
⋅
@AshokThangam, hope now you see why I said what I said. I said "Wrong interpretation completely ! It's poised to rocket upwards". Imagine if folks shorted Gold based on your recommendations, they would be wiped out. It pains me when I see people making recommendations against the fundamentals.
Yes, Equity Markets can be shorted in phases (first small shorts now) starting end of this week or beginning next week !
AshokThangam
⋅
yes you're right . It will suffer but i'm not sure about in a long term .
if it pullback to $1400 and $1350 , we cannot say were the free-fall will stop.
I hope this huge fall initiated by some countries large selling of gold.
Arun_Sangwan
⋅
@AshokThangam, sorry that's the wrong interpretation ..