Another big slide is likely just ahead

FX:XAUUSD   Gold Spot / U.S. Dollar
At the moment of writing this update our full 250% net short positions in gold 0.33% 0.28% -0.29% -0.08% -1.31% -1.65% , silver 0.41% 0.54% -0.81% -0.88% 0.14% -0.53% and mining stocks are well justified from the risk and reward perspective.

Comparing Analogies with 2013-There are precious lessons you can learn-

The conclusion-our outlook for Gold 0.33% -0.29% -0.07% -1.31% 0.05% , Silver 0.41% -0.81% -0.88% 0.28% -0.53% and mining stocks is very bearish for the medium and long-term, and it seems gold 0.33% -0.29% -0.07% -1.31% 0.05% is likely to plunge more within next 2.5 weeks and it seems $1130 target is very much likely to reach but it may even drop to $1060.We may touch a local bottom later this month, though and we’ll keep you informed regarding the possibility of seeing a bigger turnaround.
more likely scenario- we’ll see some kind of local bottom with gold 0.33% -0.29% -0.07% -1.31% at $1,125 - $1,130 or so. This week’s declines shows that the slide has already begun

we will keep you informed anyway

many regards-Neeraj Pandey

Our existing positions

Sell Limit Price: 14.750

Take Profit: 12.80

Stop Loss: 15.600


Sell limit Price: 1185

Take Profit: 1080

Stop Loss: 1221
( It doesn’t, however, mean that we won’t adjust (limit, close or even reverse) the position before this price level is reached. If we get enough confirmations other than gold’s price level itself (for instance, mining stocks show strength and silver 0.41% -0.81% -0.88% 0.28% -0.53% 0.13% -0.13% -0.06% -0.26% -0.19% -0.06% reaches a very important support level , while the USD reaches a key resistance), then we might do it, just like we’ve done previously (which ultimately caused the short position to be more profitable).

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