GOLD Down ward channel started

[imaxcare]

 

[NoRhino]

I wouldn't be surprised to see gold trade sideways, while it digests the rally from $900, in the last 3 cases it's taken about 15 months to digest each big leg up before the next one. I would expect the low of 104X to hold, but ultimately we will eventually see new highs. Anyone else expecting gold to be ranged bound for now?

 

[Johnkitty]

Yah, recently there is fluctuation in Gold Prices due to the demand and supply. And this also is related to Crude Oil prices.

 

[challenges]

As long as the debt level of major economies, e.g. US, UK, Japan, remains high, gold will serve as a good hedge for the potential devaluation of global currencies. It would be better to stay bullish for the year to come.

 

[oiltanker]

given there are now 100 times more contracts than there is real gold the market looks unstable in the long run?

 

[traderkenny]

As long as the debt level of major economies, e.g. US, UK, Japan, remains high, gold will serve as a good hedge for the potential devaluation of global currencies. It would be better to stay bullish for the year to come.

you mean the increasing of debt from developed countries make effect to gold prices?
ulmm..let see!