Gold against dollar's bullish run looks like decided its destination on 1675, and 1675 become the key area to decide its fate ,if it breaks it will go high , else it break out the resistance to take control by the bears...
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...
Gold ETF can be used to see the trend of Gold. The way jump from sub 140 level to significantly higher than 140 at 143 has taken place in early August, we have signs of the overall sentiment as strongly bullish. With RSI hovering around 60 in past 2 months, it is evident a strong uptrend is present. At the moment, we can see the strength declining and we can...
